Envestnet Asset Management Inc. increased its holdings in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) by 4.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 145,328 shares of the electronics maker’s stock after purchasing an additional 6,778 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sanmina were worth $5,919,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SANM. Assetmark Inc. increased its holdings in shares of Sanmina by 6.1% in the 2nd quarter. Assetmark Inc. now owns 48,019 shares of the electronics maker’s stock valued at $1,956,000 after purchasing an additional 2,768 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Sanmina by 19.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 36,996 shares of the electronics maker’s stock valued at $1,503,000 after buying an additional 5,896 shares during the period. First Horizon Advisors Inc. purchased a new stake in Sanmina in the 2nd quarter worth approximately $128,000. EverSource Wealth Advisors LLC boosted its stake in shares of Sanmina by 243.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the electronics maker’s stock valued at $99,000 after buying an additional 1,722 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Sanmina by 580.5% during the 2nd quarter. Victory Capital Management Inc. now owns 562,921 shares of the electronics maker’s stock valued at $22,928,000 after acquiring an additional 480,196 shares in the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Sanmina news, CEO Jure Sola sold 119,550 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $50.33, for a total value of $6,016,951.50. Following the completion of the sale, the chief executive officer now owns 917,906 shares of the company’s stock, valued at $46,198,208.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.30% of the company’s stock.
Sanmina Stock Up 6.1 %
Sanmina stock opened at $68.46 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. Sanmina Co. has a 1-year low of $35.36 and a 1-year high of $67.90. The firm’s fifty day simple moving average is $51.50 and its 200-day simple moving average is $46.59. The company has a market capitalization of $3.96 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.13 and a beta of 1.01.
Analyst Upgrades and Downgrades
SANM has been the subject of a number of research reports. Craig Hallum lifted their price objective on Sanmina from $70.00 to $76.00 in a research report on Tuesday. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Sidoti raised Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday.
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.
Further Reading
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