Park Avenue Securities LLC Reduces Stake in Sanmina Co. (NASDAQ:SANM)

Park Avenue Securities LLC lessened its position in shares of Sanmina Co. (NASDAQ:SANM) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,879 shares of the electronics maker’s stock after selling 724 shares during the quarter. Park Avenue Securities LLC’s holdings in Sanmina were worth $266,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Sanmina by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 7,108,722 shares of the electronics maker’s stock valued at $365,175,000 after purchasing an additional 130,797 shares during the period. Quadrature Capital Ltd purchased a new stake in Sanmina during the fourth quarter valued at approximately $1,124,000. CWM LLC raised its position in Sanmina by 1,275.9% in the first quarter. CWM LLC now owns 5,476 shares of the electronics maker’s stock worth $340,000 after acquiring an additional 5,078 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Sanmina by 9.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 4,328 shares of the electronics maker’s stock worth $269,000 after acquiring an additional 385 shares during the last quarter. Finally, Diversified Trust Co grew its position in shares of Sanmina by 4.0% during the 1st quarter. Diversified Trust Co now owns 16,876 shares of the electronics maker’s stock valued at $1,049,000 after acquiring an additional 654 shares during the period. Institutional investors own 92.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jure Sola sold 82,328 shares of Sanmina 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 sale, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Eugene A. Delaney sold 8,688 shares of the 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 completion of the transaction, the director now directly owns 92,199 shares of the company’s stock, valued at approximately $6,899,251.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the completion of the sale, the chief executive officer now directly owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock worth $7,294,883 in the last three months. 3.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a report on Sunday.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $67.35 on Monday. The company has a market capitalization of $3.68 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.52 and a beta of 0.89. Sanmina Co. has a 1-year low of $43.40 and a 1-year high of $76.84. The firm’s 50 day simple moving average is $67.96 and its two-hundred day simple moving average is $66.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27.

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

Sanmina Company 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.