Covestor Ltd Cuts Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Covestor Ltd lessened its position in Sanmina Co. (NASDAQ:SANM) by 58.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 999 shares of the electronics maker’s stock after selling 1,420 shares during the quarter. Covestor Ltd’s holdings in Sanmina were worth $62,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in Sanmina during the 4th quarter worth $64,000. Delta Asset Management LLC TN acquired a new position in Sanmina during the fourth quarter worth about $85,000. Quest Partners LLC purchased a new stake in Sanmina during the 4th quarter valued at about $126,000. Blue Trust Inc. raised its holdings in Sanmina by 21.2% in the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock valued at $133,000 after acquiring an additional 428 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in Sanmina in the 1st quarter valued at about $211,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SANM shares. Craig Hallum restated a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research report on Tuesday, April 30th. StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.

Insider Buying and Selling at Sanmina

In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the transaction, the executive vice president now owns 37,651 shares of the company’s stock, valued at $2,463,504.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the sale, the executive vice president now owns 37,651 shares of the company’s stock, valued at $2,463,504.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene A. Delaney sold 7,181 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the transaction, the director now owns 100,887 shares of the company’s stock, valued at $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is currently owned by corporate insiders.

Sanmina Stock Down 1.2 %

Shares of NASDAQ SANM opened at $72.32 on Thursday. Sanmina Co. has a 1 year low of $43.40 and a 1 year high of $74.38. The company has a market capitalization of $4.04 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.57 and a beta of 0.92. The company has a 50 day simple moving average of $67.76 and a 200-day simple moving average of $62.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. On average, equities research analysts predict that Sanmina Co. will post 4.86 earnings per share for the current 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.