Assetmark Inc. Sells 7,325 Shares of Sanmina Corporation $SANM

Assetmark Inc. cut its stake in Sanmina Corporation (NASDAQ:SANM) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,079 shares of the electronics maker’s stock after selling 7,325 shares during the period. Assetmark Inc. owned 0.16% of Sanmina worth $8,421,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in Sanmina by 22.7% in the first quarter. Invesco Ltd. now owns 878,849 shares of the electronics maker’s stock valued at $66,951,000 after acquiring an additional 162,465 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in Sanmina by 8.5% in the first quarter. Global Alpha Capital Management Ltd. now owns 814,691 shares of the electronics maker’s stock valued at $62,063,000 after acquiring an additional 63,500 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Sanmina by 4.7% in the second quarter. Allianz Asset Management GmbH now owns 749,220 shares of the electronics maker’s stock valued at $73,296,000 after acquiring an additional 33,865 shares during the last quarter. Nuveen LLC bought a new stake in Sanmina in the first quarter valued at approximately $50,510,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Sanmina by 7.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 478,208 shares of the electronics maker’s stock valued at $36,430,000 after acquiring an additional 33,966 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $137.05 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12. Sanmina Corporation has a twelve month low of $63.67 and a twelve month high of $160.25. The stock’s 50 day moving average is $122.96 and its 200-day moving average is $104.61. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.43 and a beta of 1.19.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Bank of America boosted their price target on Sanmina from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Wall Street Zen lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sanmina in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $94.50.

Sanmina Company 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.