Raymond James & Associates Decreases Stake in Sanmina Co. (NASDAQ:SANM)

Raymond James & Associates decreased its position in Sanmina Co. (NASDAQ:SANM) by 20.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,294 shares of the electronics maker’s stock after selling 10,057 shares during the period. Raymond James & Associates’ holdings in Sanmina were worth $2,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in Sanmina by 7.8% in the 4th quarter. Diversified Trust Co now owns 16,222 shares of the electronics maker’s stock valued at $833,000 after buying an additional 1,170 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Sanmina by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,977,925 shares of the electronics maker’s stock worth $378,762,000 after purchasing an additional 33,635 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Sanmina by 271.0% during the 3rd quarter. Deutsche Bank AG now owns 88,167 shares of the electronics maker’s stock worth $4,786,000 after purchasing an additional 64,405 shares during the last quarter. Comerica Bank purchased a new stake in shares of Sanmina during the 3rd quarter worth approximately $3,285,000. Finally, Creative Planning increased its stake in shares of Sanmina by 16.5% during the 3rd quarter. Creative Planning now owns 7,778 shares of the electronics maker’s stock worth $422,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Down 0.7 %

Sanmina stock opened at $57.91 on Wednesday. Sanmina Co. has a 1-year low of $43.40 and a 1-year high of $69.69. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.92 and a beta of 1.04. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $61.19 and a 200 day simple moving average of $54.95.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, January 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $1.49 EPS. Sanmina’s revenue was down 20.4% compared to the same quarter last year. On average, analysts predict that Sanmina Co. will post 4.7 earnings per share for the current year.

Insider Activity at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now directly owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Fox Advisors assumed coverage on shares of Sanmina in a research note on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target for the company.

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.