Sanmina Co. (NASDAQ:SANM) Shares Sold by State Street Corp

State Street Corp lowered its stake in Sanmina Co. (NASDAQ:SANM) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,319,821 shares of the electronics maker’s stock after selling 39,698 shares during the period. State Street Corp’s holdings in Sanmina were worth $158,792,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Quantinno Capital Management LP increased its holdings in shares of Sanmina by 11.0% in the third quarter. Quantinno Capital Management LP now owns 3,649 shares of the electronics maker’s stock valued at $250,000 after purchasing an additional 362 shares during the period. Paloma Partners Management Co acquired a new position in shares of Sanmina in the third quarter valued at approximately $219,000. Edgestream Partners L.P. acquired a new position in shares of Sanmina in the third quarter valued at approximately $876,000. Verition Fund Management LLC acquired a new position in shares of Sanmina in the third quarter valued at approximately $425,000. Finally, Captrust Financial Advisors boosted its stake in shares of Sanmina by 19.7% in the third quarter. Captrust Financial Advisors now owns 7,689 shares of the electronics maker’s stock valued at $526,000 after buying an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Stock Down 1.1 %

SANM opened at $80.05 on Friday. The business’s fifty day moving average is $74.39 and its two-hundred day moving average is $70.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.99. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.35 and a beta of 0.91. Sanmina Co. has a one year low of $48.83 and a one year high of $86.05.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business earned $1.20 earnings per share. Sanmina’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Sanmina Co. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SANM has been the topic of a number of analyst reports. StockNews.com upgraded Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Craig Hallum lifted their price target on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

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.