Shell Asset Management Co. Cuts Stock Position in Sanmina Co. (NASDAQ:SANM)

Shell Asset Management Co. lowered its position in Sanmina Co. (NASDAQ:SANMGet Rating) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,567 shares of the electronics maker’s stock after selling 2,454 shares during the period. Shell Asset Management Co.’s holdings in Sanmina were worth $670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP purchased a new position in shares of Sanmina in the 1st quarter worth approximately $764,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Sanmina in the 1st quarter worth approximately $2,583,000. Mutual of America Capital Management LLC grew its position in shares of Sanmina by 4.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 9,158 shares of the electronics maker’s stock worth $370,000 after buying an additional 362 shares during the last quarter. TriaGen Wealth Management LLC acquired a new stake in Sanmina in the 1st quarter worth approximately $2,134,000. Finally, Islay Capital Management LLC acquired a new stake in Sanmina in the 1st quarter worth approximately $160,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

Sanmina Stock Down 0.8 %

SANM stock opened at $45.68 on Tuesday. The firm has a 50 day moving average of $42.49 and a 200 day moving average of $40.85. The stock has a market capitalization of $2.78 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.16. Sanmina Co. has a 52 week low of $35.06 and a 52 week high of $46.40.

Sanmina (NASDAQ:SANMGet Rating) last announced its quarterly earnings data on Monday, August 1st. The electronics maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.11 by $0.19. Sanmina had a net margin of 4.10% and a return on equity of 12.92%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts forecast that Sanmina Co. will post 3.99 earnings per share for the current year.

Insider Buying and Selling at Sanmina

In other Sanmina news, SVP Brent Billinger sold 2,520 shares of Sanmina stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $42.33, for a total transaction of $106,671.60. Following the completion of the sale, the senior vice president now directly owns 11,742 shares in the company, valued at approximately $497,038.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 14th.

Sanmina 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.

See Also

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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