Sanmina Co. (NASDAQ:SANM) Shares Sold by Covestor Ltd

Covestor Ltd reduced its position in shares of Sanmina Co. (NASDAQ:SANM) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 999 shares of the electronics maker’s stock after selling 1,420 shares during the period. Covestor Ltd’s holdings in Sanmina were worth $62,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Sanmina in the 4th quarter worth approximately $64,000. Delta Asset Management LLC TN purchased a new stake in shares of Sanmina during the fourth quarter valued at $85,000. Quest Partners LLC acquired a new position in shares of Sanmina in the 4th quarter valued at $126,000. Blue Trust Inc. increased its stake in Sanmina by 21.2% in 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 in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in Sanmina by 70,240.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock worth $181,000 after buying an additional 3,512 shares during the period. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $72.32 on Thursday. The business has a fifty day simple moving average of $67.76 and a 200 day simple moving average of $62.46. The company has a current ratio of 2.00, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. Sanmina Co. has a 1 year low of $43.40 and a 1 year high of $74.38. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.57 and a beta of 0.92.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The firm’s revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 earnings per share. As a group, sell-side analysts predict that Sanmina Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SANM. Craig Hallum reiterated a “hold” rating and issued a $62.00 target price on shares of Sanmina in a report on Tuesday, April 30th. StockNews.com lowered Sanmina from a “buy” rating to a “hold” rating in a report on Friday, July 19th.

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.