Sanmina Co. (NASDAQ:SANM) Stake Lessened by Jane Street Group LLC

Jane Street Group LLC lessened its stake in Sanmina Co. (NASDAQ:SANM) by 85.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,873 shares of the electronics maker’s stock after selling 71,224 shares during the period. Jane Street Group LLC’s holdings in Sanmina were worth $898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC increased its stake in shares of Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock worth $148,239,000 after buying an additional 243,258 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock worth $139,407,000 after purchasing an additional 522,534 shares during the period. Geode Capital Management LLC boosted its holdings in Sanmina by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock worth $116,277,000 after purchasing an additional 21,239 shares during the period. Earnest Partners LLC boosted its holdings in Sanmina by 1.8% in the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker’s stock worth $81,256,000 after purchasing an additional 19,144 shares during the period. Finally, Northern Trust Corp boosted its holdings in Sanmina by 8.1% in the fourth quarter. Northern Trust Corp now owns 799,430 shares of the electronics maker’s stock worth $60,493,000 after purchasing an additional 59,878 shares during the period. Institutional investors own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SANM shares. Wall Street Zen raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Saturday. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Stock Performance

Shares of SANM opened at $84.20 on Friday. Sanmina Co. has a 1 year low of $61.52 and a 1 year high of $91.12. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The firm has a fifty day moving average of $78.11 and a 200-day moving average of $79.73.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina declared that its Board of Directors has initiated a stock repurchase plan on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.