Paulson Wealth Management Inc. Lowers Position in Sanmina Co. (NASDAQ:SANM)

Paulson Wealth Management Inc. reduced its position in shares of Sanmina Co. (NASDAQ:SANM) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,235 shares of the electronics maker’s stock after selling 221 shares during the period. Paulson Wealth Management Inc.’s holdings in Sanmina were worth $214,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Sanmina by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock worth $38,323,000 after buying an additional 59,849 shares during the period. Louisiana State Employees Retirement System raised its holdings in Sanmina by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 27,900 shares of the electronics maker’s stock worth $1,848,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Sanmina by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 11,881 shares of the electronics maker’s stock worth $787,000 after purchasing an additional 224 shares in the last quarter. Blue Trust Inc. grew its holdings in Sanmina by 70.1% in the second quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock valued at $194,000 after purchasing an additional 1,288 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Sanmina by 8.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,571 shares of the electronics maker’s stock valued at $237,000 after buying an additional 287 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Trading Down 2.0 %

NASDAQ:SANM traded down $1.40 on Monday, reaching $69.36. The stock had a trading volume of 389,954 shares, compared to its average volume of 434,616. Sanmina Co. has a 12-month low of $43.40 and a 12-month high of $76.84. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.92 and a beta of 0.92. The firm’s fifty day moving average is $69.20 and its two-hundred day moving average is $65.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 EPS. Equities analysts expect that Sanmina Co. will post 4.24 EPS for the current fiscal year.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 8,688 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $74.83, for a total value of $650,123.04. Following the completion of the sale, the director now directly owns 92,199 shares in the company, valued at $6,899,251.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Krish A. Prabhu sold 4,803 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the completion of the sale, the director now owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene A. Delaney sold 8,688 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total value of $650,123.04. Following the completion of the sale, the director now directly owns 92,199 shares of the company’s stock, valued at approximately $6,899,251.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,320 shares of company stock worth $7,294,883. 3.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on SANM. Craig Hallum restated a “hold” rating and set a $62.00 target price on shares of Sanmina in a report on Tuesday, April 30th. StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a research 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.