Millennium Management LLC Sells 117,277 Shares of Sanmina Co. (NASDAQ:SANM)

Millennium Management LLC decreased its holdings in Sanmina Co. (NASDAQ:SANM) by 30.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,042 shares of the electronics maker’s stock after selling 117,277 shares during the quarter. Millennium Management LLC owned 0.49% of Sanmina worth $17,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. SummerHaven Investment Management LLC raised its position in shares of Sanmina by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 11,881 shares of the electronics maker’s stock valued at $787,000 after buying an additional 224 shares in the last quarter. GAMMA Investing LLC increased its stake in Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 257 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Sanmina by 8.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,571 shares of the electronics maker’s stock valued at $237,000 after acquiring an additional 287 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Sanmina by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,900 shares of the electronics maker’s stock valued at $1,848,000 after acquiring an additional 300 shares during the period. Finally, Delphi Management Inc. MA grew its holdings in shares of Sanmina by 3.4% during the 1st quarter. Delphi Management Inc. MA now owns 9,932 shares of the electronics maker’s stock worth $618,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Insider Buying and Selling

In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the sale, the executive vice president now owns 26,679 shares in the company, valued at $1,836,849.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the transaction, the executive vice president now owns 26,679 shares of the company’s stock, valued at $1,836,849.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jure Sola sold 82,328 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the transaction, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,320 shares of company stock worth $7,294,883 in the last three months. 3.09% of the stock is owned by corporate insiders.

Sanmina Stock Up 1.1 %

Shares of SANM opened at $67.28 on Friday. The firm has a 50 day simple moving average of $68.49 and a two-hundred day simple moving average of $66.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. Sanmina Co. has a one year low of $43.40 and a one year high of $76.84. The company has a market cap of $3.68 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.52 and a beta of 0.89.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.03). Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. Sanmina’s quarterly revenue was down 16.6% compared to the same quarter last year. Research analysts forecast that Sanmina Co. will post 4.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a research note on Saturday.

Sanmina 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.