Sanmina Co. (NASDAQ:SANM) Shares Sold by Algert Global LLC

Algert Global LLC lowered its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 62.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,789 shares of the electronics maker’s stock after selling 61,742 shares during the period. Algert Global LLC owned 0.07% of Sanmina worth $2,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Sanmina by 108.4% during the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after buying an additional 257 shares during the period. Innealta Capital LLC purchased a new stake in Sanmina during the 2nd quarter valued at approximately $116,000. Blue Trust Inc. lifted its position in Sanmina by 70.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock worth $194,000 after acquiring an additional 1,288 shares during the period. Choreo LLC purchased a new position in shares of Sanmina in the 2nd quarter valued at approximately $211,000. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Sanmina in the first quarter valued at approximately $211,000. 92.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a report on Friday, September 27th.

Sanmina Price Performance

Shares of SANM opened at $66.88 on Wednesday. The firm has a market capitalization of $3.65 billion, a PE ratio of 15.81, a P/E/G ratio of 1.88 and a beta of 0.90. The stock’s 50 day moving average is $69.01 and its two-hundred day moving average is $66.08. Sanmina Co. has a twelve month low of $43.40 and a twelve month high of $76.84. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last announced 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 return on equity of 10.79% and a net margin of 2.93%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $1.37 EPS. The company’s revenue was down 16.6% on a year-over-year basis. Research analysts anticipate that Sanmina Co. will post 4.24 earnings per share for the current year.

Insider Activity

In other Sanmina news, Director Eugene A. Delaney sold 8,688 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 in the company, valued at $6,899,251.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the director now owns 92,199 shares of the company’s stock, valued at approximately $6,899,251.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total value of $323,674.17. Following the completion of the sale, the director now owns 19,166 shares in the company, valued at approximately $1,291,596.74. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock worth $7,294,883 in the last 90 days. 3.09% of the stock is currently owned by corporate insiders.

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.