Kendall Capital Management Increases Holdings in Sanmina Co. (NASDAQ:SANM)

Kendall Capital Management lifted its position in shares of Sanmina Co. (NASDAQ:SANM) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,085 shares of the electronics maker’s stock after buying an additional 735 shares during the period. Kendall Capital Management’s holdings in Sanmina were worth $403,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. First Eagle Investment Management LLC raised its holdings in shares of Sanmina by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 188,672 shares of the electronics maker’s stock valued at $12,500,000 after buying an additional 2,130 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Sanmina by 10.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,257 shares of the electronics maker’s stock worth $282,000 after purchasing an additional 394 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Sanmina by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 43,913 shares of the electronics maker’s stock worth $2,909,000 after purchasing an additional 1,474 shares during the period. WINTON GROUP Ltd purchased a new position in Sanmina in the 2nd quarter worth approximately $1,096,000. Finally, Envestnet Asset Management Inc. increased its stake in Sanmina by 2.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 199,022 shares of the electronics maker’s stock worth $13,185,000 after purchasing an additional 4,821 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Price Performance

SANM opened at $69.68 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.27 and a current ratio of 2.03. Sanmina Co. has a 52-week low of $43.40 and a 52-week high of $76.84. The stock has a market capitalization of $3.81 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.84 and a beta of 0.90. The stock’s 50 day moving average price is $69.47 and its 200-day moving average price is $65.87.

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

Insider Activity

In other news, Director Eugene A. Delaney sold 8,688 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total transaction of $650,123.04. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eugene A. Delaney sold 8,688 shares of Sanmina stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total transaction of $650,123.04. Following the sale, the director now directly owns 92,199 shares in the company, valued at $6,899,251.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of Sanmina stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the sale, the executive vice president now owns 26,679 shares in the company, valued at $1,836,849.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,320 shares of company stock valued at $7,294,883. Company insiders own 3.09% of the company’s stock.

Analyst Ratings Changes

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

About Sanmina

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.