Park Avenue Securities LLC Invests $204,000 in Sanmina Co. (NASDAQ:SANM)

Park Avenue Securities LLC purchased a new position in shares of Sanmina Co. (NASDAQ:SANMGet Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,425 shares of the electronics maker’s stock, valued at approximately $204,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Sanmina by 76.4% during the 3rd quarter. CWM LLC now owns 545 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 236 shares during the period. Fifth Third Bancorp boosted its stake in Sanmina by 122.4% during the 2nd quarter. Fifth Third Bancorp now owns 636 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 350 shares during the period. Ronald Blue Trust Inc. bought a new stake in Sanmina during the 2nd quarter valued at approximately $31,000. US Bancorp DE boosted its stake in Sanmina by 44.1% during the 3rd quarter. US Bancorp DE now owns 1,137 shares of the electronics maker’s stock valued at $53,000 after purchasing an additional 348 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Sanmina by 243.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the electronics maker’s stock valued at $99,000 after purchasing an additional 1,722 shares during the period. Institutional investors own 91.22% of the company’s stock.

Insider Transactions at Sanmina

In other news, CFO Kurt Adzema sold 15,482 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $61.30, for a total value of $949,046.60. Following the completion of the transaction, the chief financial officer now directly owns 69,351 shares of the company’s stock, valued at approximately $4,251,216.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Kurt Adzema sold 15,482 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $61.30, for a total transaction of $949,046.60. Following the completion of the sale, the chief financial officer now directly owns 69,351 shares of the company’s stock, valued at approximately $4,251,216.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Goldsberry sold 8,262 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $68.58, for a total value of $566,607.96. Following the sale, the director now directly owns 14,062 shares of the company’s stock, valued at $964,371.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,014 shares of company stock valued at $1,728,205. Corporate insiders own 3.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SANM. Craig Hallum increased their target price on Sanmina to $76.00 in a research note on Tuesday, November 15th. Citigroup raised their price objective on Sanmina to $65.00 in a research report on Tuesday, November 15th. StockNews.com upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 20th. Finally, Sidoti upgraded Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Tuesday, November 8th.

Sanmina Price Performance

Shares of SANM stock opened at $60.63 on Wednesday. Sanmina Co. has a 12 month low of $35.36 and a 12 month high of $69.28. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $61.38 and a two-hundred day moving average of $54.09. The company has a market capitalization of $3.48 billion, a P/E ratio of 14.82 and a beta of 1.08.

Sanmina (NASDAQ:SANMGet Rating) last issued its earnings results on Monday, November 7th. The electronics maker reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Sanmina had a return on equity of 15.02% and a net margin of 3.25%. The business had revenue of $2.20 billion during the quarter.

Sanmina Company Profile

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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.

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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