Maryland State Retirement & Pension System Sells 701 Shares of Sanmina Co. (NASDAQ:SANM)

Maryland State Retirement & Pension System lowered its stake in shares of Sanmina Co. (NASDAQ:SANM) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,098 shares of the electronics maker’s stock after selling 701 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sanmina were worth $1,171,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Sanmina by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 7,108,722 shares of the electronics maker’s stock valued at $365,175,000 after purchasing an additional 130,797 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of Sanmina by 27.4% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 677,891 shares of the electronics maker’s stock worth $34,823,000 after buying an additional 145,780 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Sanmina by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 583,257 shares of the electronics maker’s stock valued at $29,962,000 after purchasing an additional 13,120 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Sanmina by 11.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 542,386 shares of the electronics maker’s stock valued at $27,862,000 after purchasing an additional 55,605 shares in the last quarter. Finally, Norges Bank purchased a new stake in Sanmina in the fourth quarter valued at approximately $21,836,000. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Stock Down 1.8 %

Shares of NASDAQ SANM opened at $65.03 on Friday. Sanmina Co. has a one year low of $43.40 and a one year high of $69.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $65.93 and its two-hundred day simple moving average is $60.64. The stock has a market capitalization of $3.63 billion, a P/E ratio of 15.37, a PEG ratio of 1.42 and a beta of 0.92.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s quarterly revenue was down 20.9% on a year-over-year basis. As a group, analysts expect that Sanmina Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SANM. Craig Hallum reaffirmed a “hold” rating and issued a $62.00 target price on shares of Sanmina in a research note on Tuesday, April 30th. StockNews.com downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 7,181 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the transaction, the director now owns 100,887 shares in the company, valued at $6,548,575.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Alan Mcwilliams Reid sold 3,528 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the completion of the sale, the executive vice president now owns 37,651 shares of the company’s stock, valued at $2,463,504.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 7,181 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the sale, the director now directly owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. Company insiders own 3.09% of the company’s stock.

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.