Panagora Asset Management Inc. Buys 27,268 Shares of Sanmina Co. (NASDAQ:SANM)

Panagora Asset Management Inc. grew its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,588 shares of the electronics maker's stock after buying an additional 27,268 shares during the quarter. Panagora Asset Management Inc. owned 0.64% of Sanmina worth $23,491,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Sanmina by 108.4% in the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker's stock worth $33,000 after acquiring an additional 257 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Sanmina in the 4th quarter worth $64,000. Delta Asset Management LLC TN acquired a new position in Sanmina during the 4th quarter valued at about $85,000. Quest Partners LLC acquired a new position in Sanmina during the 4th quarter valued at about $126,000. Finally, Blue Trust Inc. increased 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 valued at $194,000 after buying an additional 1,288 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sanmina

In other news, Director Krish A. Prabhu sold 4,803 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total value of $323,674.17. Following the sale, the director now owns 19,166 shares in the company, valued at $1,291,596.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jure Sola sold 82,328 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Krish A. Prabhu sold 4,803 shares of the 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 transaction, 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. In the last 90 days, insiders have sold 104,320 shares of company stock worth $7,294,883. 3.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Sanmina Stock Performance

Sanmina stock traded down $0.17 during trading hours on Friday, hitting $69.38. 894,190 shares of the stock traded hands, compared to its average volume of 435,955. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. The firm's 50 day moving average price is $69.39 and its 200-day moving average price is $65.34. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.92 and a beta of 0.92. Sanmina Co. has a 1 year low of $43.40 and a 1 year high of $76.84.

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

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.