Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Sanmina Co. (NASDAQ:SANM – Free Report) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,214 shares of the electronics maker’s stock after purchasing an additional 636 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Sanmina were worth $500,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Metropolitan Life Insurance Co NY raised its holdings in shares of Sanmina by 4.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,513 shares of the electronics maker’s stock valued at $201,000 after acquiring an additional 161 shares during the period. Evergreen Capital Management LLC increased its stake in Sanmina by 3.2% in the 4th quarter. Evergreen Capital Management LLC now owns 5,982 shares of the electronics maker’s stock valued at $343,000 after buying an additional 185 shares during the period. Exchange Traded Concepts LLC increased its stake in Sanmina by 36.8% in the 2nd quarter. Exchange Traded Concepts LLC now owns 695 shares of the electronics maker’s stock valued at $42,000 after buying an additional 187 shares during the period. The Manufacturers Life Insurance Company increased its stake in Sanmina by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,033 shares of the electronics maker’s stock valued at $1,388,000 after buying an additional 189 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sanmina by 3.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,868 shares of the electronics maker’s stock valued at $320,000 after buying an additional 233 shares during the period. 90.26% of the stock is owned by institutional investors and hedge funds.
Sanmina Stock Performance
Shares of SANM opened at $58.20 on Wednesday. The company’s fifty day moving average is $52.05 and its 200-day moving average is $52.76. Sanmina Co. has a 12 month low of $43.40 and a 12 month high of $69.69. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Bank of America reiterated an “underperform” rating and issued a $45.00 price objective on shares of Sanmina in a research note on Friday, December 15th. StockNews.com lowered shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th.
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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