Envestnet Asset Management Inc. cut its holdings in Sanmina Co. (NASDAQ:SANM – Free Report) by 85.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,963 shares of the electronics maker’s stock after selling 835,349 shares during the period. Envestnet Asset Management Inc. owned 0.24% of Sanmina worth $8,255,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its holdings in Sanmina by 52.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 38,338 shares of the electronics maker’s stock valued at $2,311,000 after purchasing an additional 13,139 shares during the period. Headlands Technologies LLC bought a new position in Sanmina in the 2nd quarter valued at $196,000. Mackenzie Financial Corp boosted its holdings in Sanmina by 2.6% in the 2nd quarter. Mackenzie Financial Corp now owns 9,576 shares of the electronics maker’s stock valued at $576,000 after purchasing an additional 244 shares during the period. Illinois Municipal Retirement Fund bought a new position in Sanmina in the 2nd quarter valued at $3,060,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Sanmina by 2.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 30,522 shares of the electronics maker’s stock worth $1,840,000 after acquiring an additional 724 shares during the last quarter. 90.26% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th.
Insider Buying and Selling
In related news, EVP Alan Mcwilliams Reid sold 5,344 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $55.92, for a total transaction of $298,836.48. Following the sale, the executive vice president now owns 27,000 shares of the company’s stock, valued at $1,509,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eugene A. Delaney sold 1,366 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $55.19, for a total value of $75,389.54. Following the transaction, the director now owns 97,867 shares in the company, valued at $5,401,279.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alan Mcwilliams Reid sold 5,344 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $55.92, for a total transaction of $298,836.48. Following the completion of the transaction, the executive vice president now owns 27,000 shares in the company, valued at approximately $1,509,840. The disclosure for this sale can be found here. Insiders have sold 7,104 shares of company stock valued at $394,856 over the last quarter. Corporate insiders own 3.03% of the company’s stock.
Sanmina Stock Performance
NASDAQ SANM opened at $48.67 on Friday. The company has a fifty day moving average of $51.78 and a 200-day moving average of $54.59. The company has a market capitalization of $2.83 billion, a P/E ratio of 9.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.18 and a current ratio of 1.91. Sanmina Co. has a 52-week low of $43.40 and a 52-week high of $69.04.
Sanmina (NASDAQ:SANM – Get Free Report) last posted its quarterly earnings data on Monday, November 6th. The electronics maker reported $1.42 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.11). Sanmina had a return on equity of 14.52% and a net margin of 3.43%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $1.32 EPS. The company’s revenue was down 7.8% on a year-over-year basis.
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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