Summit Global Investments Sells 4,375 Shares of Sanmina Co. (NASDAQ:SANM)

Summit Global Investments trimmed its position in Sanmina Co. (NASDAQ:SANM) by 33.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,548 shares of the electronics maker’s stock after selling 4,375 shares during the period. Summit Global Investments’ holdings in Sanmina were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its position in Sanmina by 1.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 11,473 shares of the electronics maker’s stock worth $589,000 after buying an additional 212 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Sanmina by 3.3% in the fourth quarter. Russell Investments Group Ltd. now owns 17,992 shares of the electronics maker’s stock worth $924,000 after purchasing an additional 579 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Sanmina by 5.1% in the fourth quarter. Headlands Technologies LLC now owns 4,511 shares of the electronics maker’s stock worth $232,000 after purchasing an additional 217 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in Sanmina in the fourth quarter valued at approximately $806,000. Finally, State of New Jersey Common Pension Fund D grew its stake in Sanmina by 11.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 50,413 shares of the electronics maker’s stock worth $2,590,000 after buying an additional 5,243 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Stock Up 0.4 %

Shares of NASDAQ SANM opened at $61.76 on Monday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 14.60, a PEG ratio of 0.94 and a beta of 1.01. Sanmina Co. has a one year low of $43.40 and a one year high of $69.69. The firm’s 50 day simple moving average is $61.38 and its two-hundred day simple moving average is $55.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $1.37 EPS. Sanmina’s revenue for the quarter 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 Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Craig Hallum restated a “hold” rating and set a $62.00 price objective on shares of Sanmina in a research report on Tuesday, April 30th. Fox Advisors started coverage on Sanmina in a research note on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target for the company.

Insider Activity

In related news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the transaction, the director now directly owns 7,811 shares of the company’s stock, valued at $473,659.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.