Empower Advisory Group LLC, a prominent investment firm, recently acquired a new stake in the shares of Sanmina Co. (NASDAQ:SANM). The company disclosed this information in its latest 13F filing with the Securities and Exchange Commission (SEC), stating that it purchased 246,330 shares of Sanmina’s stock during the first quarter. This acquisition is estimated to be worth approximately $14,790,000.
At the end of the reporting period, Empower Advisory Group LLC held 0.42% ownership of Sanmina Co., solidifying their position as a significant investor in the electronics maker.
Sanmina Co., listed on the NASDAQ stock exchange under the ticker symbol “SANM,” recently released its quarterly earnings report on July 31st. The report revealed that for the quarter, Sanmina recorded earnings per share (EPS) of $1.55. This surpassed analysts’ consensus estimate by $0.02, showcasing the company’s strong financial performance.
The total revenue generated by Sanmina during this period amounted to $2.21 billion, slightly lower than the consensus estimate of $2.25 billion. Despite this difference, it is important to highlight that Sanmina’s quarterly revenue increased by an impressive 9.1% compared to the same quarter last year.
Sanmina also enjoyed a net margin of 3.40% and a return on equity of 15.77%, indicating its ability to efficiently manage its resources and generate returns for shareholders. In comparison, during the same quarter in the previous year, Sanmina had earned an EPS of $1.17.
These positive financial indicators demonstrate Sanmina’s resilience and steady growth amidst challenging market conditions prevalent during these times.
As Empower Advisory Group LLC continues to strengthen its position as an active investor in various companies across different sectors, their decision to invest in Sanmina Co.’s shares reflects confidence in its potential for future growth, profitability, and overall investment value.
Investors and market analysts interested in monitoring Sanmina’s performance are advised to stay updated with the latest stock analysis reports. These reports can provide valuable insights into the company’s financial health, market trends, and potential investment opportunities.
In conclusion, Empower Advisory Group LLC’s recent acquisition of a stake in Sanmina Co. reveals their confidence in the electronics maker’s growth prospects. With the positive quarterly earnings report indicating Sanmina’s solid performance, investors should keep an eye on this company as it navigates its way through an ever-changing market landscape.
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Fluctuating Investor Positions and Insider Stock Sales Reflect Changing Landscape for Sanmina Co.
Sanmina Co., a leading electronics maker, has seen changes in positions from several large investors. Metropolitan Life Insurance Co NY has increased its stake in Sanmina by 4.8% during the fourth quarter of this year. With an additional 161 shares purchased, Metropolitan Life now owns 3,513 shares of Sanmina valued at $201,000. Evergreen Capital Management LLC also increased its stake in Sanmina by 3.2% during the same period, acquiring an additional 185 shares and bringing their total to 5,982 shares worth $343,000.
Paulson Wealth Management Inc. joined the trend by increasing their stake in Sanmina by 5.5% during the first quarter of this year. They purchased an additional 204 shares, resulting in a total ownership of 3,883 shares valued at $237,000. Zurcher Kantonalbank Zurich Cantonalbank followed suit and increased their stake during the second quarter by 3.1%. With the purchase of an additional 233 shares, they now own a total of 7,868 shares valued at $320,000.
Graham Capital Management L.P., on the other hand, increased their stake in Sanmina by 4.6% during the first quarter of this year. They acquired an extra 254 shares and hold a total of 5,781 shares valued at $353,000 as a result. These moves from institutional investors and hedge funds indicate confidence in Sanmina’s prospects.
Despite these developments among major investors, SANM opened with a stock price of $52.26 on September 14th. The company has experienced some volatility recently with its fifty-day moving average sitting at $56.86 and its two-hundred-day moving average at $56.40.
Sanmina Co.’s market capitalization currently stands at $3.04 billion while maintaining a price-to-earnings ratio of 10.11 and a beta of 1.20. The company boasts a quick ratio of 1.14, a current ratio of 1.83, and a debt-to-equity ratio of 0.14.
In other news, CEO Jure Sola executed a stock sale transaction on August 18th, selling off 129,762 shares at an average price of $54.20. This resulted in a total transaction value of $7,033,100.40. Sola now directly owns 1,038,144 shares valued at approximately $56,267,404.80.
Additionally, EVP Alan Mcwilliams Reid sold 5,344 shares on August 31st at an average price of $55.92 per share for a total transaction value of $298,836.48. Following this sale, Reid holds 27,000 shares valued at $1,509,840.
It is worth mentioning that in the last three months alone, insiders have sold off 136,472 shares of Sanmina stock with a combined value of $7,407,326. Insiders now own approximately 3.03% of the company’s stock.
StockNews.com recently initiated coverage on Sanmina by issuing a “buy” rating on August 17th.
These recent developments highlight the changing landscape for Sanmina Co., as major investors modify their positions and insiders carry out substantial stock transactions. While the company’s stock has experienced some fluctuation in recent months and insiders have been actively selling shares in anticipation of future outcomes will remain to be seen if these changes signal further adjustments or new opportunities on the horizon for this electronics maker.
