Oppenheimer Asset Management Inc. Raises Stock Position in Sanmina Co. (NASDAQ:SANM)

Oppenheimer Asset Management Inc. lifted its position in shares of Sanmina Co. (NASDAQ:SANM) by 40.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,692 shares of the electronics maker’s stock after acquiring an additional 10,000 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of Sanmina worth $2,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SANM. GAMMA Investing LLC grew its holdings in Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 257 shares during the last quarter. Principal Securities Inc. purchased a new position in Sanmina during the 4th quarter valued at about $64,000. Delta Asset Management LLC TN acquired a new position in Sanmina during the fourth quarter worth about $85,000. Innealta Capital LLC purchased a new stake in shares of Sanmina in the second quarter valued at about $116,000. Finally, Quest Partners LLC acquired a new stake in shares of Sanmina in the fourth quarter valued at approximately $126,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eugene A. Delaney sold 8,688 shares of Sanmina stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total value of $650,123.04. Following the completion of the sale, the director now owns 92,199 shares of the company’s stock, valued at $6,899,251.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Eugene A. Delaney sold 8,688 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $74.83, for a total value of $650,123.04. Following the sale, the director now directly owns 92,199 shares of the company’s stock, valued at $6,899,251.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the sale, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at $83,506,043.98. The disclosure for this sale can be found here. Insiders have sold a total of 104,320 shares of company stock valued at $7,294,883 in the last quarter. 3.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

Sanmina Trading Up 1.4 %

Shares of SANM stock opened at $68.50 on Wednesday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.79 and a beta of 0.90. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $69.47 and a 200 day moving average price of $65.83. Sanmina Co. has a twelve month low of $43.40 and a twelve month high of $76.84.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $1.37 EPS. The business’s quarterly revenue was down 16.6% on a year-over-year basis. Research analysts forecast that Sanmina Co. will post 4.24 earnings per share for the current fiscal year.

Sanmina Profile

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.