Norges Bank Takes Position in Sanmina Co. (NASDAQ:SANM)

Norges Bank purchased a new stake in shares of Sanmina Co. (NASDAQ:SANMFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 425,068 shares of the electronics maker’s stock, valued at approximately $21,836,000. Norges Bank owned about 0.75% of Sanmina as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SANM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Sanmina by 7.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,214 shares of the electronics maker’s stock valued at $500,000 after buying an additional 636 shares during the last quarter. Jump Financial LLC purchased a new stake in Sanmina in the third quarter worth approximately $1,080,000. New York State Common Retirement Fund boosted its holdings in Sanmina by 60.0% in the third quarter. New York State Common Retirement Fund now owns 367,621 shares of the electronics maker’s stock worth $19,954,000 after purchasing an additional 137,922 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Sanmina in the third quarter worth approximately $939,000. Finally, Swiss National Bank boosted its holdings in Sanmina by 0.6% in the third quarter. Swiss National Bank now owns 127,800 shares of the electronics maker’s stock worth $6,937,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SANM shares. Fox Advisors started coverage on shares of Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 target price on the stock. StockNews.com upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Finally, Craig Hallum reiterated a “hold” rating and set a $62.00 price target on shares of Sanmina in a research note on Tuesday, April 30th.

Get Our Latest Report on SANM

Insider Activity

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the sale, the executive vice president now directly owns 37,651 shares in the company, valued at approximately $2,463,504.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sanmina news, Director Eugene A. Delaney sold 7,181 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the sale, the director now owns 100,887 shares in the company, valued at approximately $6,548,575.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the sale, the executive vice president now owns 37,651 shares in the company, valued at approximately $2,463,504.93. The disclosure for this sale can be found here. Insiders have sold 11,103 shares of company stock worth $720,600 in the last three months. Company insiders own 3.09% of the company’s stock.

Sanmina Trading Down 0.1 %

Shares of Sanmina stock opened at $68.54 on Monday. The company’s fifty day simple moving average is $62.78 and its 200-day simple moving average is $57.93. The stock has a market capitalization of $3.82 billion, a PE ratio of 16.20, a P/E/G ratio of 1.47 and a beta of 0.95. Sanmina Co. has a 1-year low of $43.40 and a 1-year high of $69.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25.

Sanmina (NASDAQ:SANMGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.21. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The company’s revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. As a group, equities analysts anticipate that Sanmina Co. will post 4.86 earnings per share for the current year.

Sanmina Profile

(Free Report)

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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