Sanmina Co. (NASDAQ:SANM) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in Sanmina Co. (NASDAQ:SANM) by 3.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,998 shares of the electronics maker’s stock after selling 564 shares during the period. Arizona State Retirement System’s holdings in Sanmina were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in shares of Sanmina by 85.8% in the first quarter. Covestor Ltd now owns 2,473 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 1,142 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in shares of Sanmina by 154.4% in the third quarter. Ronald Blue Trust Inc. now owns 2,020 shares of the electronics maker’s stock worth $110,000 after purchasing an additional 1,226 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Sanmina by 21.2% in the fourth quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after purchasing an additional 428 shares in the last quarter. CI Investments Inc. grew its stake in shares of Sanmina by 3,686.4% in the third quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 2,986 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Sanmina by 4.8% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,513 shares of the electronics maker’s stock worth $201,000 after purchasing an additional 161 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Trading Up 0.8 %

NASDAQ:SANM opened at $58.35 on Thursday. The business has a fifty day moving average of $61.21 and a 200-day moving average of $54.97. 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 $3.31 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.23 and a current ratio of 1.99.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $1.49 earnings per share. The company’s quarterly revenue was down 20.4% on a year-over-year basis. Equities analysts predict that Sanmina Co. will post 4.7 earnings per share for the current year.

Insider Activity at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.64, for a total transaction of $60,640.00. Following the completion of the transaction, the director now owns 7,811 shares of the company’s stock, valued at $473,659.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.09% of the company’s stock.

Analyst Ratings Changes

Separately, Fox Advisors started coverage on Sanmina in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target for the company.

About Sanmina

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.