Guggenheim Capital LLC reduced its position in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) by 27.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,923 shares of the electronics maker’s stock after selling 11,229 shares during the quarter. Guggenheim Capital LLC owned 0.05% of Sanmina worth $1,379,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC increased its stake in Sanmina by 76.4% during the 3rd quarter. CWM LLC now owns 545 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 236 shares in the last quarter. Fifth Third Bancorp increased its stake in Sanmina by 122.4% during the 2nd quarter. Fifth Third Bancorp now owns 636 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 350 shares in the last quarter. Ronald Blue Trust Inc. bought a new stake in Sanmina during the 2nd quarter valued at about $31,000. Quantbot Technologies LP bought a new stake in Sanmina during the 3rd quarter valued at about $43,000. Finally, US Bancorp DE increased its stake in Sanmina by 44.1% during the 3rd quarter. US Bancorp DE now owns 1,137 shares of the electronics maker’s stock valued at $53,000 after purchasing an additional 348 shares in the last quarter. 91.22% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on SANM shares. Citigroup raised their price objective on shares of Sanmina to $65.00 in a research note on Tuesday, November 15th. StockNews.com raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 5th. Craig Hallum raised their price target on shares of Sanmina to $76.00 in a report on Tuesday, November 15th. Finally, Sidoti raised shares of Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Tuesday, November 8th.
Sanmina Stock Performance
Sanmina (NASDAQ:SANM – Get Rating) last announced its quarterly earnings results on Monday, January 30th. The electronics maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.26. The company 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%. Sanmina’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share.
Insider Activity
In other news, CFO Kurt Adzema sold 15,482 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $61.30, for a total transaction of $949,046.60. Following the completion of the sale, the chief financial officer now directly owns 69,351 shares of the company’s stock, valued at $4,251,216.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Brent Billinger sold 4,736 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $63.43, for a total value of $300,404.48. Following the completion of the sale, the senior vice president now directly owns 10 shares of the company’s stock, valued at $634.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt Adzema sold 15,482 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $61.30, for a total transaction of $949,046.60. Following the completion of the sale, the chief financial officer now directly owns 69,351 shares of the company’s stock, valued at $4,251,216.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,371 shares of company stock valued at $2,107,072. 3.03% of the stock is currently owned by company insiders.
Sanmina Profile
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.
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