Sanmina Co. (NASDAQ:SANM) Shares Purchased by Cubist Systematic Strategies LLC

Posted by on Mar 6th, 2023

Cubist Systematic Strategies LLC boosted its position in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) by 700.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,724 shares of the electronics maker’s stock after purchasing an additional 75,021 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.15% of Sanmina worth $3,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Sanmina by 216.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 810,247 shares of the electronics maker’s stock valued at $33,002,000 after buying an additional 553,822 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Sanmina by 967.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 419,494 shares of the electronics maker’s stock worth $19,329,000 after acquiring an additional 380,194 shares during the last quarter. Renaissance Technologies LLC raised its position in Sanmina by 163.7% in the third quarter. Renaissance Technologies LLC now owns 218,133 shares of the electronics maker’s stock valued at $10,052,000 after purchasing an additional 135,400 shares during the period. Cambria Investment Management L.P. raised its position in Sanmina by 1,593.7% in the third quarter. Cambria Investment Management L.P. now owns 137,530 shares of the electronics maker’s stock valued at $6,337,000 after purchasing an additional 129,410 shares during the period. Finally, Bridgewater Associates LP acquired a new position in shares of Sanmina in the 2nd quarter valued at $5,249,000. 91.22% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Stock Performance

Shares of Sanmina stock opened at $60.40 on Monday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 12.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 1.02. The business has a 50-day moving average of $60.26 and a 200 day moving average of $57.16. Sanmina Co. has a 12 month low of $36.35 and a 12 month high of $69.28.

Sanmina (NASDAQ:SANM – Get Rating) last issued its quarterly earnings results on Monday, January 30th. The electronics maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.26. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Sanmina had a net margin of 3.37% and a return on equity of 15.85%. The business’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share.

Insiders Place Their Bets

In other news, SVP Brent Billinger sold 4,537 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $65.02, for a total value of $294,995.74. Following the sale, the senior vice president now directly owns 5,742 shares in the company, valued at $373,344.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sanmina news, SVP Brent Billinger sold 4,537 shares of the company’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $65.02, for a total transaction of $294,995.74. Following the sale, the senior vice president now owns 5,742 shares in the company, valued at approximately $373,344.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kurt Adzema sold 15,482 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $61.30, for a total value of $949,046.60. Following the completion of the sale, the chief financial officer now directly owns 69,351 shares in the company, valued at approximately $4,251,216.30. The disclosure for this sale can be found here. Insiders sold a total of 33,371 shares of company stock worth $2,107,072 over the last 90 days. Corporate insiders own 3.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 5th. Craig Hallum boosted their price target on shares of Sanmina to $76.00 in a research note on Tuesday, November 15th. Sidoti upgraded shares of Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Tuesday, November 8th. Finally, Citigroup lifted their target price on shares of Sanmina to $65.00 in a report on Tuesday, November 15th.

About Sanmina

(Get Rating)

Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.

Featured Stories

Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

Receive News & Ratings for Sanmina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanmina and related companies with MarketBeat.com's FREE daily email newsletter.