State of Alaska Department of Revenue Reduces Position in Sanmina Co. (NASDAQ:SANM)

State of Alaska Department of Revenue cut its holdings in shares of Sanmina Co. (NASDAQ:SANMFree Report) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,621 shares of the electronics maker’s stock after selling 424 shares during the period. State of Alaska Department of Revenue owned approximately 0.19% of Sanmina worth $5,579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. West Tower Group LLC purchased a new position in shares of Sanmina during the 2nd quarter valued at about $51,000. Farther Finance Advisors LLC increased its stake in Sanmina by 1,922.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the electronics maker’s stock worth $61,000 after acquiring an additional 961 shares during the last quarter. Ronald Blue Trust Inc. increased its stake in Sanmina by 154.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,020 shares of the electronics maker’s stock worth $110,000 after acquiring an additional 1,226 shares during the last quarter. Blue Trust Inc. increased its stake in Sanmina by 21.2% in the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 428 shares during the last quarter. Finally, Covestor Ltd increased its stake in Sanmina by 85.8% in the 1st quarter. Covestor Ltd now owns 2,473 shares of the electronics maker’s stock worth $100,000 after acquiring an additional 1,142 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sanmina

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.64, for a total transaction of $60,640.00. Following the completion of the sale, the director now owns 7,811 shares of the company’s stock, valued at $473,659.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Fox Advisors began coverage on Sanmina in a research report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 target price on the stock. Bank of America reiterated an “underperform” rating and issued a $45.00 target price on shares of Sanmina in a report on Friday, December 15th.

Read Our Latest Stock Analysis on SANM

Sanmina Stock Down 1.3 %

Shares of SANM opened at $61.38 on Tuesday. Sanmina Co. has a 52 week low of $43.40 and a 52 week high of $69.69. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.98 and a beta of 1.04. The stock’s 50-day moving average price is $60.51 and its 200-day moving average price is $54.45.

Sanmina (NASDAQ:SANMGet Free Report) last issued its quarterly earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. Sanmina’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. On average, sell-side analysts predict that Sanmina Co. will post 4.7 EPS for the current year.

About Sanmina

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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