Sanmina Co. (NASDAQ:SANM) Holdings Lifted by Mutual of America Capital Management LLC

Posted by MarketBeat News on Aug 1st, 2022

Mutual of America Capital Management LLC increased its holdings in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,158 shares of the electronics maker’s stock after buying an additional 362 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sanmina were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Sanmina in the fourth quarter valued at about $8,365,000. State Street Corp grew its stake in Sanmina by 7.3% in the fourth quarter. State Street Corp now owns 2,490,463 shares of the electronics maker’s stock valued at $103,255,000 after purchasing an additional 169,506 shares in the last quarter. Invenomic Capital Management LP grew its stake in Sanmina by 455.2% in the fourth quarter. Invenomic Capital Management LP now owns 178,645 shares of the electronics maker’s stock valued at $7,407,000 after purchasing an additional 146,468 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Sanmina in the fourth quarter valued at about $6,008,000. Finally, Invesco Ltd. grew its stake in Sanmina by 12.4% in the fourth quarter. Invesco Ltd. now owns 1,071,699 shares of the electronics maker’s stock valued at $44,433,000 after purchasing an additional 118,122 shares in the last quarter. Hedge funds and other institutional investors own 92.28% of the company’s stock.

Insiders Place Their Bets

In other Sanmina news, SVP Brent Billinger sold 2,520 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $42.33, for a total value of $106,671.60. Following the completion of the sale, the senior vice president now owns 11,742 shares of the company’s stock, valued at $497,038.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.38% of the company’s stock.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $46.05 on Monday. Sanmina Co. has a fifty-two week low of $35.06 and a fifty-two week high of $46.40. The business has a 50-day moving average of $42.41 and a two-hundred day moving average of $40.82. The stock has a market capitalization of $2.80 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.65 and a quick ratio of 1.02.

Sanmina (NASDAQ:SANM – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The electronics maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13. Sanmina had a return on equity of 12.92% and a net margin of 4.10%. The company had revenue of $1.91 billion during the quarter. During the same period in the prior year, the firm earned $0.87 EPS. On average, equities research analysts predict that Sanmina Co. will post 3.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 14th.

Sanmina Company Profile

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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.