Sanmina Co. (NASDAQ:SANM) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in Sanmina Co. (NASDAQ:SANM) by 8.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,683 shares of the electronics maker’s stock after selling 325 shares during the quarter. Park Avenue Securities LLC’s holdings in Sanmina were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Sanmina in the fourth quarter valued at approximately $48,823,000. Franklin Resources Inc. boosted its holdings in shares of Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock valued at $139,407,000 after acquiring an additional 522,534 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Sanmina in the fourth quarter valued at approximately $34,868,000. FMR LLC boosted its holdings in shares of Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock valued at $148,239,000 after acquiring an additional 243,258 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Sanmina in the fourth quarter valued at approximately $12,928,000. 92.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Sanmina from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, June 9th. Wall Street Zen raised Sanmina from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th.

Sanmina Price Performance

Sanmina stock opened at $86.33 on Monday. Sanmina Co. has a 12 month low of $61.52 and a 12 month high of $91.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The business has a 50 day simple moving average of $81.36 and a 200-day simple moving average of $80.45. The stock has a market capitalization of $4.62 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Sanmina Co. will post 5.15 earnings per share for the current year.

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.