Mackenzie Financial Corp raised its position in Sanmina Co. (NASDAQ:SANM – Get Rating) by 88.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,591 shares of the electronics maker’s stock after acquiring an additional 5,904 shares during the quarter. Mackenzie Financial Corp’s holdings in Sanmina were worth $513,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new stake in Sanmina in the first quarter valued at approximately $2,583,000. Meeder Asset Management Inc. boosted its stake in Sanmina by 134.9% in the first quarter. Meeder Asset Management Inc. now owns 5,233 shares of the electronics maker’s stock valued at $211,000 after acquiring an additional 3,005 shares in the last quarter. Cambria Investment Management L.P. acquired a new stake in Sanmina in the second quarter valued at approximately $331,000. TD Asset Management Inc. boosted its stake in Sanmina by 2.0% in the first quarter. TD Asset Management Inc. now owns 192,800 shares of the electronics maker’s stock valued at $7,793,000 after acquiring an additional 3,800 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Sanmina by 19.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 36,996 shares of the electronics maker’s stock valued at $1,503,000 after acquiring an additional 5,896 shares in the last quarter. 95.68% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Sanmina
In related news, Director John Goldsberry sold 8,262 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $68.58, for a total transaction of $566,607.96. Following the completion of the transaction, the director now directly owns 14,062 shares in the company, valued at $964,371.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alan Mcwilliams Reid sold 3,270 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $65.00, for a total transaction of $212,550.00. Following the completion of the transaction, the executive vice president now directly owns 30,730 shares in the company, valued at $1,997,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Goldsberry sold 8,262 shares of Sanmina stock in a transaction on Friday, November 11th. The shares were sold at an average price of $68.58, for a total transaction of $566,607.96. Following the completion of the transaction, the director now directly owns 14,062 shares of the company’s stock, valued at approximately $964,371.96. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.
Sanmina Trading Down 0.3 %
NASDAQ:SANM opened at $66.38 on Friday. The company has a market capitalization of $3.81 billion, a P/E ratio of 16.23, a PEG ratio of 1.09 and a beta of 1.01. The firm has a fifty day simple moving average of $55.23 and a 200-day simple moving average of $48.33. Sanmina Co. has a 12 month low of $35.36 and a 12 month high of $69.28. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Craig Hallum raised their target price on shares of Sanmina to $76.00 in a research note on Tuesday, November 15th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on shares of Sanmina to $65.00 in a research note on Tuesday, November 15th. Finally, Sidoti upgraded shares of Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, November 8th.
About Sanmina
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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.
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