Cambria Investment Management L.P. Sells 6,833 Shares of Sanmina Co. (NASDAQ:SANM)

Cambria Investment Management L.P. lessened its holdings in Sanmina Co. (NASDAQ:SANM) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,488 shares of the electronics maker’s stock after selling 6,833 shares during the quarter. Cambria Investment Management L.P. owned 0.26% of Sanmina worth $9,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SANM. Citigroup Inc. increased its holdings in Sanmina by 3.2% in the 1st quarter. Citigroup Inc. now owns 66,456 shares of the electronics maker’s stock valued at $2,686,000 after buying an additional 2,060 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Sanmina by 43.6% in the 1st quarter. MetLife Investment Management LLC now owns 32,196 shares of the electronics maker’s stock valued at $1,301,000 after purchasing an additional 9,768 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Sanmina by 12.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,791 shares of the electronics maker’s stock valued at $2,215,000 after purchasing an additional 6,135 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Sanmina by 2.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 56,784 shares of the electronics maker’s stock valued at $2,356,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Sanmina by 8.6% in the 1st quarter. Allianz Asset Management GmbH now owns 200,520 shares of the electronics maker’s stock valued at $8,105,000 after purchasing an additional 15,959 shares in the last quarter. Institutional investors own 90.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th.

Sanmina Price Performance

NASDAQ SANM traded up $0.29 on Wednesday, hitting $50.10. 12,935 shares of the company were exchanged, compared to its average volume of 414,869. The firm has a 50 day moving average of $51.95 and a two-hundred day moving average of $54.66. The company has a market cap of $2.92 billion, a P/E ratio of 9.71 and a beta of 1.19. The company has a current ratio of 1.91, a quick ratio of 1.18 and a debt-to-equity ratio of 0.13. Sanmina Co. has a 1-year low of $43.40 and a 1-year high of $69.04.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, November 6th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.11). The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.15 billion. Sanmina had a return on equity of 14.52% and a net margin of 3.43%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS.

Insiders Place Their Bets

In other Sanmina news, Director Eugene A. Delaney sold 1,366 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $55.19, for a total transaction of $75,389.54. Following the completion of the sale, the director now directly owns 97,867 shares of the company’s stock, valued at approximately $5,401,279.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jure Sola sold 129,762 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $54.20, for a total transaction of $7,033,100.40. Following the completion of the sale, the chief executive officer now directly owns 1,038,144 shares of the company’s stock, valued at approximately $56,267,404.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eugene A. Delaney sold 1,366 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $55.19, for a total value of $75,389.54. Following the sale, the director now directly owns 97,867 shares of the company’s stock, valued at $5,401,279.73. The disclosure for this sale can be found here. In the last three months, insiders sold 136,866 shares of company stock valued at $7,427,956. 3.03% of the stock is currently owned by 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.