Vise Technologies Inc. bought a new position in shares of Sanmina Corporation (NASDAQ:SANM – Free Report) during the 2nd quarter, Holdings Channel reports. The firm bought 5,603 shares of the electronics maker’s stock, valued at approximately $1,418,000.
Other institutional investors have also made changes to their positions in the company. Danske Bank A S acquired a new position in Sanmina during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Sanmina in the 3rd quarter valued at about $26,000. N.E.W. Advisory Services LLC bought a new position in shares of Sanmina in the second quarter worth about $36,000. Employees Retirement System of Texas bought a new position in shares of Sanmina in the fourth quarter worth about $39,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sanmina in the second quarter worth about $50,000. 92.71% of the stock is owned by institutional investors.
Sanmina Price Performance
Sanmina stock opened at $188.89 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $10.12 billion, a P/E ratio of 33.79, a PEG ratio of 0.66 and a beta of 1.59. The business has a 50-day moving average of $214.52 and a 200-day moving average of $191.41. Sanmina Corporation has a 1 year low of $110.44 and a 1 year high of $288.68.
Insider Buying and Selling
In other Sanmina news, CFO Jonathan P. Faust sold 10,076 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $265.80, for a total value of $2,678,200.80. Following the sale, the chief financial officer directly owned 77,000 shares in the company, valued at approximately $20,466,600. This trade represents a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.10% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Weiss Ratings cut shares of Sanmina from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Sanmina from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Wall Street Zen raised Sanmina from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Zacks Research upgraded Sanmina from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Sanmina has an average rating of “Moderate Buy” and an average target price of $198.33.
Check Out Our Latest Stock Report on SANM
Sanmina Profile
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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