Lazard Asset Management LLC Invests $142,000 in Sanmina Co. (NASDAQ:SANM)

Lazard Asset Management LLC purchased a new position in Sanmina Co. (NASDAQ:SANMGet Rating) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,487 shares of the electronics maker’s stock, valued at approximately $142,000.

A number of other hedge funds have also modified their holdings of the stock. Global Alpha Capital Management Ltd. acquired a new position in shares of Sanmina in the second quarter worth $10,257,000. Personal Capital Advisors Corp increased its position in Sanmina by 1.9% during the second quarter. Personal Capital Advisors Corp now owns 333,072 shares of the electronics maker’s stock worth $13,566,000 after buying an additional 6,108 shares during the last quarter. Fifth Third Bancorp increased its position in Sanmina by 122.4% during the second quarter. Fifth Third Bancorp now owns 636 shares of the electronics maker’s stock worth $26,000 after buying an additional 350 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Sanmina by 4.9% during the second quarter. Envestnet Asset Management Inc. now owns 145,328 shares of the electronics maker’s stock worth $5,919,000 after buying an additional 6,778 shares during the last quarter. Finally, Assetmark Inc. increased its position in Sanmina by 6.1% during the second quarter. Assetmark Inc. now owns 48,019 shares of the electronics maker’s stock worth $1,956,000 after buying an additional 2,768 shares during the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.

Sanmina Stock Down 0.2 %

SANM stock opened at $65.99 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.60 and a quick ratio of 0.91. Sanmina Co. has a 52-week low of $35.36 and a 52-week high of $69.28. The company has a 50-day moving average of $54.07 and a two-hundred day moving average of $47.89. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01.

Insider Buying and Selling at Sanmina

In other Sanmina news, CEO Jure Sola sold 119,550 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $50.33, for a total transaction of $6,016,951.50. Following the completion of the sale, the chief executive officer now directly owns 917,906 shares in the company, valued at $46,198,208.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jure Sola sold 119,550 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $50.33, for a total value of $6,016,951.50. Following the completion of the sale, the chief executive officer now owns 917,906 shares in the company, valued at $46,198,208.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alan Mcwilliams Reid sold 3,270 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $65.00, for a total transaction of $212,550.00. Following the completion of the sale, the executive vice president now owns 30,730 shares of the company’s stock, valued at approximately $1,997,450. The disclosure for this sale can be found here. Insiders sold 131,082 shares of company stock worth $6,796,109 over the last ninety days. Company insiders own 3.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Sanmina to $65.00 in a research report on Tuesday, November 15th. Sidoti raised shares of Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, November 8th. Craig Hallum increased their target price on shares of Sanmina to $76.00 in a research report on Tuesday, November 15th. Finally, StockNews.com raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 15th.

About Sanmina

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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.

Further Reading

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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