Raymond James & Associates Has $2.02 Million Stake in Sanmina Co. (NASDAQ:SANM)

Raymond James & Associates trimmed its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 20.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,294 shares of the electronics maker’s stock after selling 10,057 shares during the period. Raymond James & Associates owned 0.07% of Sanmina worth $2,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd increased its holdings in Sanmina by 85.8% during the 1st quarter. Covestor Ltd now owns 2,473 shares of the electronics maker’s stock valued at $100,000 after purchasing an additional 1,142 shares in the last quarter. Ronald Blue Trust Inc. increased its stake in shares of Sanmina by 154.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,020 shares of the electronics maker’s stock valued at $110,000 after buying an additional 1,226 shares during the period. CI Investments Inc. increased its stake in shares of Sanmina by 3,686.4% in the 3rd quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock valued at $166,000 after buying an additional 2,986 shares during the period. Metropolitan Life Insurance Co NY increased its stake in shares of Sanmina by 4.8% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,513 shares of the electronics maker’s stock valued at $201,000 after buying an additional 161 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of Sanmina in the 3rd quarter valued at $203,000. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Stock Down 0.7 %

NASDAQ SANM opened at $57.91 on Wednesday. The stock has a fifty day moving average of $61.19 and a 200-day moving average of $54.95. The stock has a market capitalization of $3.29 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. Sanmina Co. has a 52 week low of $43.40 and a 52 week high of $69.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.23 and a current ratio of 1.99.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $1.49 EPS. The firm’s revenue was down 20.4% on a year-over-year basis. On average, equities research analysts forecast that Sanmina Co. will post 4.7 EPS for the current year.

Analyst Ratings Changes

Separately, Fox Advisors initiated coverage on Sanmina in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 target price for the company.

Insider Transactions at Sanmina

In other news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the transaction, the director now directly owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.09% of the stock is owned by corporate insiders.

Sanmina Profile

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.