Occam Crest Management LP purchased a new position in Sanmina Corporation (NASDAQ:SANM – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,000 shares of the electronics maker’s stock, valued at approximately $3,001,000. Sanmina makes up approximately 2.1% of Occam Crest Management LP’s portfolio, making the stock its 18th biggest position.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Optiver Holding B.V. raised its stake in shares of Sanmina by 36.6% in the third quarter. Optiver Holding B.V. now owns 220 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 59 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Sanmina during the 3rd quarter worth about $26,000. Employees Retirement System of Texas purchased a new position in shares of Sanmina during the 4th quarter valued at about $39,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Sanmina by 182.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 339 shares of the electronics maker’s stock valued at $51,000 after buying an additional 219 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Sanmina by 235.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 369 shares of the electronics maker’s stock valued at $55,000 after buying an additional 259 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.
Sanmina Price Performance
Shares of SANM stock opened at $259.82 on Tuesday. The firm’s 50-day moving average is $215.92 and its two-hundred day moving average is $172.87. Sanmina Corporation has a 12 month low of $86.57 and a 12 month high of $288.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.71 and a quick ratio of 1.03. The company has a market capitalization of $13.93 billion, a PE ratio of 54.93, a price-to-earnings-growth ratio of 0.98 and a beta of 1.54.
Insiders Place Their Bets
In related news, CFO Jonathan P. Faust sold 10,076 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $265.80, for a total transaction of $2,678,200.80. Following the transaction, the chief financial officer owned 77,000 shares of the company’s stock, valued at approximately $20,466,600. This represents a 11.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jure Sola sold 118,368 shares of Sanmina stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $228.84, for a total value of $27,087,333.12. Following the completion of the transaction, the chief executive officer directly owned 1,227,573 shares of the company’s stock, valued at approximately $280,917,805.32. This represents a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 156,509 shares of company stock valued at $35,699,476. Insiders own 3.10% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Susquehanna initiated coverage on shares of Sanmina in a research note on Wednesday, April 1st. They set a “neutral” rating and a $135.00 target price on the stock. Zacks Research raised Sanmina from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Weiss Ratings raised Sanmina from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. assumed coverage on Sanmina in a research report on Monday, March 30th. They issued a “neutral” rating and a $145.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sanmina has a consensus rating of “Moderate Buy” and an average price target of $150.00.
Check Out Our Latest Report on Sanmina
About Sanmina
Sanmina Corporation is a leading global electronics manufacturing services (EMS) provider specializing in the design, production and end-to-end supply chain solutions for complex electronic products. Founded in 1980, the company has built a reputation for delivering high-reliability manufacturing across a wide range of industries, including communications, computing, aerospace and defense, medical, automotive and industrial sectors.
Sanmina’s core offerings encompass product design and engineering support, precision PCB fabrication and assembly, system integration, testing, and final system deployment.
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