Park Avenue Securities LLC Sells 724 Shares of Sanmina Co. (NASDAQ:SANM)

Park Avenue Securities LLC reduced its stake in shares of Sanmina Co. (NASDAQ:SANM) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,879 shares of the electronics maker’s stock after selling 724 shares during the quarter. Park Avenue Securities LLC’s holdings in Sanmina were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after purchasing an additional 164 shares during the period. Innealta Capital LLC bought a new position in Sanmina during the 2nd quarter valued at about $116,000. Blue Trust Inc. raised its position in Sanmina by 70.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock worth $194,000 after purchasing an additional 1,288 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new stake in Sanmina in the first quarter worth about $211,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the transaction, the chief executive officer now directly owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jure Sola sold 82,328 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total value of $5,735,791.76. Following the sale, the chief executive officer now directly owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 8,688 shares of Sanmina stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total transaction of $650,123.04. Following the completion of the transaction, the director now directly owns 92,199 shares in the company, valued at approximately $6,899,251.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock valued at $7,294,883 over the last 90 days. Corporate insiders own 3.09% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a research note on Sunday.

Sanmina Price Performance

SANM opened at $67.35 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $67.96 and its 200-day simple moving average is $66.50. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.52 and a beta of 0.89. Sanmina Co. has a 12-month low of $43.40 and a 12-month high of $76.84.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business posted $1.37 EPS. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. On average, equities research analysts anticipate that Sanmina Co. will post 4.24 earnings per share for the current fiscal year.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.