Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Sanmina Co. (NASDAQ:SANM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Sanmina Co. (NASDAQ:SANM) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,411 shares of the electronics maker’s stock after purchasing an additional 197 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Sanmina were worth $464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Sanmina during the fourth quarter worth $64,000. Blue Trust Inc. boosted its stake in shares of Sanmina by 21.2% during the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after purchasing an additional 428 shares during the period. CI Investments Inc. grew its holdings in Sanmina by 3,686.4% during the 3rd quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock valued at $166,000 after purchasing an additional 2,986 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Sanmina in the 3rd quarter worth about $232,000. Finally, Headlands Technologies LLC lifted its stake in Sanmina by 5.1% in the fourth quarter. Headlands Technologies LLC now owns 4,511 shares of the electronics maker’s stock worth $232,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Performance

Sanmina stock opened at $68.10 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 2.00. The company has a market capitalization of $3.80 billion, a PE ratio of 16.10, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a 50 day moving average price of $61.76 and a 200-day moving average price of $56.92. Sanmina Co. has a fifty-two week low of $43.40 and a fifty-two week high of $69.69.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $1.37 EPS. Sanmina’s revenue was down 20.9% on a year-over-year basis. As a group, equities analysts forecast that Sanmina Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

SANM has been the topic of several recent analyst reports. Fox Advisors began coverage on Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target on the stock. Craig Hallum reiterated a “hold” rating and set a $62.00 target price on shares of Sanmina in a research report on Tuesday, April 30th.

Insiders Place Their Bets

In other news, Director Eugene A. Delaney sold 7,181 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the sale, the director now owns 100,887 shares in the company, valued at approximately $6,548,575.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares in the company, valued at $2,463,504.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $64.91, for a total transaction of $466,118.71. Following the sale, the director now directly owns 100,887 shares of the company’s stock, valued at $6,548,575.17. The disclosure for this sale can be found here. Insiders have sold a total of 11,103 shares of company stock worth $720,600 in the last three months. Corporate insiders own 3.09% of the company’s stock.

About Sanmina

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.