Assenagon Asset Management S.A. Reduces Stake in Sanmina Co. (NASDAQ:SANM)

Assenagon Asset Management S.A. cut its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,022 shares of the electronics maker's stock after selling 68,807 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.36% of Sanmina worth $14,933,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sanmina in the 4th quarter valued at about $90,000. Principal Securities Inc. boosted its position in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after purchasing an additional 166 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock valued at $108,000 after purchasing an additional 1,056 shares during the period. Sterling Capital Management LLC raised its stake in Sanmina by 843.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 1,543 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Sanmina by 34.1% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 437 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on SANM. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America upped their price objective on Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, June 9th.

Sanmina Stock Performance

SANM traded down $1.12 on Friday, hitting $86.33. 654,948 shares of the company traded hands, compared to its average volume of 405,921. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $81.36 and a 200-day moving average of $80.43. The stock has a market capitalization of $4.62 billion, a PE ratio of 21.11, a PEG ratio of 1.29 and a beta of 1.14. Sanmina Co. has a 12-month low of $61.52 and a 12-month high of $91.12.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. Sanmina's quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Sanmina Co. will post 5.15 earnings per share for the current year.

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.