Sadoff Investment Management LLC Sells 26,025 Shares of Sanmina Co. (NASDAQ:SANM)

Sadoff Investment Management LLC decreased its stake in Sanmina Co. (NASDAQ:SANM) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847,907 shares of the electronics maker’s stock after selling 26,025 shares during the period. Sanmina comprises about 2.0% of Sadoff Investment Management LLC’s holdings, making the stock its 24th largest holding. Sadoff Investment Management LLC owned about 1.25% of Sanmina worth $22,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of SANM. FinTrust Capital Advisors LLC increased its position in Sanmina by 98.8% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,318 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 655 shares during the period. Private Advisor Group LLC acquired a new position in Sanmina in the 2nd quarter valued at approximately $50,000. Nisa Investment Advisors LLC increased its position in Sanmina by 103.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,140 shares of the electronics maker’s stock valued at $85,000 after acquiring an additional 1,600 shares during the period. First Bank & Trust increased its position in shares of Sanmina by 36.1% during the second quarter. First Bank & Trust now owns 4,506 shares of the electronics maker’s stock worth $113,000 after buying an additional 1,194 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Sanmina by 33.7% during the second quarter. PNC Financial Services Group Inc. now owns 6,078 shares of the electronics maker’s stock worth $151,000 after buying an additional 1,531 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Sanmina from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Saturday, November 14th. BidaskClub raised shares of Sanmina from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 10th. Finally, TheStreet raised shares of Sanmina from a “c+” rating to a “b” rating in a research report on Monday, November 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.50.

In other news, CFO Kurt Adzema sold 5,461 shares of the firm’s stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $31.18, for a total value of $170,273.98. Following the completion of the sale, the chief financial officer now directly owns 75,055 shares of the company’s stock, valued at approximately $2,340,214.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.73% of the stock is owned by company insiders.

SANM stock traded down $0.56 during mid-day trading on Monday, reaching $32.01. The company had a trading volume of 1,236 shares, compared to its average volume of 459,913. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 1.58. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.72 and a beta of 0.89. The firm has a fifty day simple moving average of $28.29 and a 200 day simple moving average of $27.17. Sanmina Co. has a fifty-two week low of $18.34 and a fifty-two week high of $34.96.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Tuesday, November 10th. The electronics maker reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.32. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. Sanmina had a return on equity of 10.35% and a net margin of 1.55%. Sanmina’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. As a group, analysts predict that Sanmina Co. will post 2.39 earnings per share for the current year.

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; manufacturing of components, subassemblies, and complete systems; high-level assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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