Wedge Capital Management L L P NC Acquires 38,286 Shares of Sanmina Co. (NASDAQ:SANM)

Wedge Capital Management L L P NC grew its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 49.5% during the fourth quarter, according to the company in its most recent 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 owned approximately 0.21% of Sanmina worth $5,941,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC grew its position in shares of Sanmina by 498.3% during the 3rd quarter. FMR LLC now owns 489,308 shares of the electronics maker's stock valued at $26,560,000 after buying an additional 407,528 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Sanmina by 19.1% in the third quarter. Earnest Partners LLC now owns 1,182,552 shares of the electronics maker's stock valued at $64,189,000 after acquiring an additional 189,832 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Sanmina by 60.0% in the third quarter. New York State Common Retirement Fund now owns 367,621 shares of the electronics maker's stock valued at $19,954,000 after acquiring an additional 137,922 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Sanmina by 25.3% in the third quarter. Assenagon Asset Management S.A. now owns 486,781 shares of the electronics maker's stock valued at $26,422,000 after acquiring an additional 98,264 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Sanmina by 56.9% in the third quarter. Envestnet Asset Management Inc. now owns 214,852 shares of the electronics maker's stock valued at $11,662,000 after acquiring an additional 77,889 shares in the last quarter. 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 report on Wednesday, March 6th. They issued an "overweight" rating and a $80.00 price objective for the company.

Sanmina Price Performance

SANM stock traded up $0.69 on Wednesday, hitting $61.66. 349,208 shares of the company's stock traded hands, compared to its average volume of 496,591. Sanmina Co. has a 1-year low of $43.40 and a 1-year high of $69.69. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.93 and a beta of 1.04. The stock has a fifty day moving average of $61.10 and a 200-day moving average of $55.14. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14.

Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results on Monday, January 29th. The electronics maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business earned $1.49 earnings per share. The business's quarterly revenue was down 20.4% on a year-over-year basis. On average, analysts forecast that Sanmina Co. will post 4.7 EPS for the current fiscal year.

Insider Activity at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the sale, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.09% of the stock is owned by insiders.

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.