Wedge Capital Management L L P NC Grows Stake in Sanmina Co. (NASDAQ:SANM)

Wedge Capital Management L L P NC boosted its position in shares of Sanmina Co. (NASDAQ:SANM) by 49.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,653 shares of the electronics maker’s stock after purchasing an additional 38,286 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Sanmina were worth $5,941,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Sanmina by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,977,925 shares of the electronics maker’s stock worth $378,762,000 after acquiring an additional 33,635 shares during the period. Earnest Partners LLC increased its position in Sanmina by 19.1% during the third quarter. Earnest Partners LLC now owns 1,182,552 shares of the electronics maker’s stock worth $64,189,000 after purchasing an additional 189,832 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Sanmina by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,137 shares of the electronics maker’s stock valued at $30,947,000 after buying an additional 13,491 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Sanmina by 11.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 542,386 shares of the electronics maker’s stock worth $27,862,000 after buying an additional 55,605 shares during the last quarter. Finally, FMR LLC grew its position in Sanmina by 498.3% during the third quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock valued at $26,560,000 after acquiring an additional 407,528 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Fox Advisors assumed coverage on shares of Sanmina in a research report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target for the company.

Insider Activity at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the sale, the director now owns 7,811 shares in the company, valued at $473,659.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.09% of the company’s stock.

Sanmina Price Performance

SANM opened at $60.97 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $61.10 and a 200 day simple moving average of $55.14. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.93 and a beta of 1.04. Sanmina Co. has a twelve month low of $43.40 and a twelve month high of $69.69.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.87 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. Sanmina’s quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 EPS. Equities research analysts expect that Sanmina Co. will post 4.7 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.