State of Alaska Department of Revenue Trims Stake in Sanmina Co. (NASDAQ:SANM)

State of Alaska Department of Revenue reduced its stake in Sanmina Co. (NASDAQ:SANM) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,392 shares of the electronics maker’s stock after selling 1,229 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.19% of Sanmina worth $6,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in shares of Sanmina during the 4th quarter valued at $64,000. Delta Asset Management LLC TN bought a new stake in Sanmina during the fourth quarter valued at about $85,000. Quest Partners LLC purchased a new position in shares of Sanmina in the fourth quarter valued at about $126,000. Blue Trust Inc. boosted its stake in shares of Sanmina by 21.2% in the fourth 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 period. Finally, TFO Wealth Partners LLC grew its position in shares of Sanmina by 70,240.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock worth $181,000 after purchasing an additional 3,512 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Eugene A. Delaney sold 7,181 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total transaction of $466,118.71. Following the completion of the sale, the director now directly owns 100,887 shares in the company, valued at approximately $6,548,575.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sanmina news, Director Eugene A. Delaney sold 7,181 shares of Sanmina stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the transaction, the director now directly owns 100,887 shares of the company’s stock, valued at $6,548,575.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total value of $230,837.04. Following the sale, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The disclosure for this sale can be found here. 3.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

SANM has been the topic of a number of research analyst reports. Fox Advisors started coverage on Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target on the stock. StockNews.com cut Sanmina from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Craig Hallum reiterated a “hold” rating and set a $62.00 price target on shares of Sanmina in a report on Tuesday, April 30th.

Sanmina Trading Up 0.9 %

Shares of Sanmina stock traded up $0.60 on Wednesday, hitting $66.24. 116,030 shares of the company traded hands, compared to its average volume of 444,375. Sanmina Co. has a 52 week low of $43.40 and a 52 week high of $69.80. The company has a market cap of $3.70 billion, a PE ratio of 15.66, a PEG ratio of 1.42 and a beta of 0.92. The stock’s 50 day moving average price is $65.82 and its 200-day moving average price is $60.51. The company has a current ratio of 2.00, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.21. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 EPS. Equities research analysts predict that Sanmina Co. will post 4.86 EPS for the current year.

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.