UBS Group AG Purchases 66,779 Shares of Sanmina Co. (NASDAQ:SANM)

UBS Group AG raised its holdings in Sanmina Co. (NASDAQ:SANM – Get Rating) by 218.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,375 shares of the electronics maker’s stock after buying an additional 66,779 shares during the quarter. UBS Group AG’s holdings in Sanmina were worth $4,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SANM. CWM LLC raised its stake in shares of Sanmina by 76.4% in the third quarter. CWM LLC now owns 545 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 236 shares during the last quarter. Fifth Third Bancorp grew its holdings in 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 purchasing an additional 350 shares during the period. Ronald Blue Trust Inc. acquired a new stake in Sanmina in the second quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new stake in Sanmina in the third quarter valued at approximately $43,000. Finally, US Bancorp DE grew its holdings in 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 purchasing an additional 348 shares during the period. 91.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SANM. Citigroup lifted their price target on Sanmina to $65.00 in a research note on Tuesday, November 15th. StockNews.com raised Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 5th. Craig Hallum lifted their price objective on Sanmina to $76.00 in a research report on Tuesday, November 15th. Finally, Sidoti upgraded Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Tuesday, November 8th.

Sanmina Price Performance

NASDAQ:SANM opened at $61.01 on Thursday. Sanmina Co. has a 52 week low of $36.35 and a 52 week high of $69.28. The company has a quick ratio of 1.02, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.56 billion, a P/E ratio of 13.04 and a beta of 1.15. The stock’s fifty day moving average is $60.18 and its two-hundred day moving average is $56.98.

Sanmina (NASDAQ:SANM – Get Rating) last posted its earnings results on Monday, January 30th. The electronics maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.26. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.15 billion. Sanmina had a return on equity of 15.85% and a net margin of 3.37%. The company’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share.

Insider Activity at Sanmina

In related news, CFO Kurt Adzema sold 15,482 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $61.30, for a total value of $949,046.60. Following the sale, the chief financial officer now owns 69,351 shares in the company, valued at approximately $4,251,216.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kurt Adzema sold 15,482 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 69,351 shares of the company’s stock, valued at approximately $4,251,216.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mcwilliams Reid sold 8,616 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $65.30, for a total value of $562,624.80. Following the transaction, the executive vice president now directly owns 32,344 shares of the company’s stock, valued at $2,112,063.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,371 shares of company stock worth $2,107,072. 3.03% of the stock is currently owned by company insiders.

About Sanmina

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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.