Credit Suisse AG Grows Position in Sanmina Co. (NASDAQ:SANM)

Credit Suisse AG raised its position in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,979 shares of the electronics maker’s stock after buying an additional 1,766 shares during the quarter. Credit Suisse AG owned about 0.09% of Sanmina worth $2,441,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its holdings in shares of Sanmina by 6.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 65,481 shares of the electronics maker’s stock worth $3,017,000 after purchasing an additional 3,725 shares during the period. Cambria Investment Management L.P. boosted its holdings in shares of Sanmina by 1,593.7% in the 3rd quarter. Cambria Investment Management L.P. now owns 137,530 shares of the electronics maker’s stock worth $6,337,000 after purchasing an additional 129,410 shares during the period. EMC Capital Management boosted its holdings in shares of Sanmina by 50.2% in the 2nd quarter. EMC Capital Management now owns 6,376 shares of the electronics maker’s stock worth $260,000 after purchasing an additional 2,131 shares during the period. Intersect Capital LLC purchased a new position in shares of Sanmina in the 2nd quarter worth approximately $274,000. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of Sanmina in the 3rd quarter worth approximately $726,000. Hedge funds and other institutional investors own 91.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SANM. StockNews.com upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 5th. Citigroup boosted their price objective on Sanmina to $65.00 in a report on Tuesday, November 15th. Craig Hallum boosted their price objective on Sanmina to $76.00 in a report on Tuesday, November 15th. Finally, Sidoti upgraded Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Tuesday, November 8th.

Sanmina Price Performance

SANM opened at $60.40 on Friday. The business has a fifty day moving average of $60.26 and a 200 day moving average of $57.12. Sanmina Co. has a 52-week low of $36.35 and a 52-week high of $69.28. The company has a quick ratio of 1.02, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.52 billion, a P/E ratio of 12.91 and a beta of 1.17.

Sanmina (NASDAQ:SANM – Get Rating) last posted its quarterly earnings data on Monday, January 30th. The electronics maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.26. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Sanmina had a return on equity of 15.85% and a net margin of 3.37%. Sanmina’s revenue was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 EPS.

Insider Buying and Selling at Sanmina

In other Sanmina news, CFO Kurt Adzema sold 15,482 shares of Sanmina 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Sanmina news, CFO Kurt Adzema sold 15,482 shares of Sanmina 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brent Billinger sold 4,736 shares of Sanmina stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $63.43, for a total value of $300,404.48. Following the sale, the senior vice president now directly owns 10 shares of the company’s stock, valued at $634.30. The disclosure for this sale can be found here. Insiders sold a total of 33,371 shares of company stock valued at $2,107,072 in the last ninety days. Corporate insiders own 3.03% of the company’s stock.

About Sanmina

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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.