Sanmina Co. (NASDAQ:SANM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Sanmina Co. (NASDAQ:SANM) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,414 shares of the electronics maker’s stock after selling 185 shares during the period. State of Alaska Department of Revenue’s holdings in Sanmina were worth $7,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in shares of Sanmina by 64.6% during the 3rd quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock worth $5,061,000 after acquiring an additional 29,028 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares during the period. Barclays PLC boosted its position in Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after purchasing an additional 69,431 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Sanmina in the third quarter valued at approximately $2,224,000. Finally, JPMorgan Chase & Co. increased its position in shares of Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after buying an additional 366,653 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Stock Up 0.6 %

Shares of SANM opened at $87.85 on Friday. The stock has a 50 day moving average price of $79.90 and a 200 day moving average price of $73.86. Sanmina Co. has a one year low of $57.28 and a one year high of $90.78. 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 stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.22 and a beta of 0.92.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Equities research analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.

Sanmina declared that its board has approved a stock repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SANM. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Craig Hallum increased their price objective on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the transaction, the director now owns 65,408 shares in the company, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.22% of the stock is currently owned by company insiders.

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.