Arizona State Retirement System Reduces Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Arizona State Retirement System lowered its position in Sanmina Co. (NASDAQ:SANM) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,998 shares of the electronics maker’s stock after selling 564 shares during the quarter. Arizona State Retirement System’s holdings in Sanmina were worth $822,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ronald Blue Trust Inc. grew its holdings in shares of Sanmina by 154.4% in the third quarter. Ronald Blue Trust Inc. now owns 2,020 shares of the electronics maker’s stock valued at $110,000 after purchasing an additional 1,226 shares during the period. Blue Trust Inc. boosted its stake in Sanmina by 21.2% during the fourth quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after buying an additional 428 shares during the period. Covestor Ltd boosted its stake in Sanmina by 85.8% during the first quarter. Covestor Ltd now owns 2,473 shares of the electronics maker’s stock worth $100,000 after buying an additional 1,142 shares during the period. CI Investments Inc. boosted its stake in Sanmina by 3,686.4% during the third quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock worth $166,000 after buying an additional 2,986 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its stake in Sanmina by 4.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,513 shares of the electronics maker’s stock worth $201,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Fox Advisors began coverage on shares of Sanmina in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price objective on the stock.

Sanmina Stock Up 0.8 %

SANM stock opened at $58.35 on Thursday. The company’s 50 day moving average is $61.21 and its two-hundred day moving average is $54.97. Sanmina Co. has a twelve month low of $43.40 and a twelve month high of $69.69. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.31 billion, a P/E ratio of 12.60, a PEG ratio of 0.92 and a beta of 1.04.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. Sanmina’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. Research analysts expect that Sanmina Co. will post 4.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred 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 directly owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.09% 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.