Do Hedge Funds Love Sanmina Corp (SANM)?

Because Sanmina Corp (NASDAQ:SANM) has experienced declining sentiment from the aggregate hedge fund industry, it’s safe to say that there lies a certain “tier” of hedge funds that decided to sell off their full holdings heading into Q4. At the top of the heap, David Costen Haley’s HBK Investments dropped the largest position of all the hedgies watched by Insider Monkey, worth close to $1.5 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dumped about $1.2 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Sanmina Corp (NASDAQ:SANM) but similarly valued. These stocks are On Assignment, Inc. (NYSE:ASGN), Novavax, Inc. (NASDAQ:NVAX), Mine Safety Appliances (NYSE:MSA), and LTC Properties Inc (NYSE:LTC). This group of stocks’ market caps resemble SANM’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $103 million in SANM’s case. On Assignment, Inc. (NYSE:ASGN) is the most popular stock in this table. On the other hand LTC Properties Inc (NYSE:LTC) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Sanmina Corp (NASDAQ:SANM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None