Park Avenue Securities LLC Makes New Investment in Sanmina Co. (NASDAQ:SANM)

Park Avenue Securities LLC purchased a new position in shares of Sanmina Co. (NASDAQ:SANMGet Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,425 shares of the electronics maker’s stock, valued at approximately $204,000.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Sanmina by 76.4% during the 3rd quarter. CWM LLC now owns 545 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 236 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Sanmina by 122.4% in the second quarter. Fifth Third Bancorp now owns 636 shares of the electronics maker’s stock valued at $26,000 after buying an additional 350 shares during the period. Ronald Blue Trust Inc. acquired a new stake in shares of Sanmina in the second quarter valued at $31,000. US Bancorp DE lifted its holdings in shares of Sanmina by 44.1% in the third quarter. US Bancorp DE now owns 1,137 shares of the electronics maker’s stock valued at $53,000 after buying an additional 348 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Sanmina by 243.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the electronics maker’s stock valued at $99,000 after buying an additional 1,722 shares during the period. Institutional investors and hedge funds own 91.22% of the company’s stock.

Sanmina Stock Up 0.8 %

Shares of Sanmina stock opened at $60.63 on Wednesday. The stock’s fifty day moving average is $61.38 and its 200-day moving average is $54.09. The firm has a market capitalization of $3.48 billion, a PE ratio of 14.82 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. Sanmina Co. has a 12-month low of $35.36 and a 12-month high of $69.28.

Sanmina (NASDAQ:SANMGet Rating) last announced its earnings results on Monday, November 7th. The electronics maker reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. The company had revenue of $2.20 billion for the quarter. Sanmina had a return on equity of 15.02% and a net margin of 3.25%.

Insider Activity at Sanmina

In related news, CFO Kurt Adzema sold 15,482 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $61.30, for a total transaction of $949,046.60. Following the transaction, the chief financial officer now directly owns 69,351 shares of the company’s stock, valued at $4,251,216.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John Goldsberry sold 8,262 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.58, for a total transaction of $566,607.96. Following the transaction, the director now directly owns 14,062 shares of the company’s stock, valued at $964,371.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt Adzema sold 15,482 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $61.30, for a total value of $949,046.60. Following the completion of the transaction, the chief financial officer now directly owns 69,351 shares in the company, valued at $4,251,216.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,014 shares of company stock valued at $1,728,205. Company insiders own 3.38% of the company’s stock.

Analyst Ratings Changes

SANM has been the subject of several research analyst reports. StockNews.com upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a report on Friday, January 20th. Sidoti upgraded Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Tuesday, November 8th. Craig Hallum upped their price objective on Sanmina to $76.00 in a report on Tuesday, November 15th. Finally, Citigroup boosted their target price on Sanmina to $65.00 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.

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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