Assenagon Asset Management S.A. Sells 349,361 Shares of Sanmina Co. (NASDAQ:SANM)

Assenagon Asset Management S.A. cut its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 71.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,639 shares of the electronics maker's stock after selling 349,361 shares during the period. Assenagon Asset Management S.A. owned about 0.26% of Sanmina worth $9,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new position in shares of Sanmina in the 1st quarter valued at approximately $741,000. Allspring Global Investments Holdings LLC increased its position in shares of Sanmina by 32.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 75,521 shares of the electronics maker's stock worth $4,696,000 after acquiring an additional 18,360 shares in the last quarter. Janus Henderson Group PLC lifted its position in Sanmina by 64.8% in the 1st quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker's stock valued at $8,381,000 after acquiring an additional 52,995 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in Sanmina by 10.2% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker's stock worth $46,460,000 after purchasing an additional 69,300 shares during the period. Finally, Empowered Funds LLC increased its holdings in Sanmina by 53.4% during the 1st quarter. Empowered Funds LLC now owns 51,854 shares of the electronics maker's stock worth $3,224,000 after purchasing an additional 18,061 shares in the last quarter. 92.71% of the stock is owned by institutional investors.

Sanmina Stock Up 1.5 %

Shares of SANM stock traded up $1.01 during trading on Monday, reaching $68.51. The company's stock had a trading volume of 353,586 shares, compared to its average volume of 420,670. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.89. Sanmina Co. has a one year low of $43.40 and a one year high of $76.84. The business has a fifty day moving average price of $67.60 and a 200-day moving average price of $66.95. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13.

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

Insider Activity at Sanmina

In other news, Director Eugene A. Delaney sold 8,688 shares of the company'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 in the company, valued at $6,899,251.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Krish A. Prabhu sold 4,803 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the completion of the sale, the director now directly owns 19,166 shares in the company, valued at approximately $1,291,596.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,320 shares of company stock valued at $7,294,883. Insiders own 3.09% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Sanmina from a "hold" rating to a "buy" rating in a research report on Sunday, October 13th.

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.