Sanmina Co. (NASDAQ:SANM) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lessened its position in Sanmina Co. (NASDAQ:SANM) by 36.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 38,063 shares of the electronics maker’s stock after selling 22,000 shares during the quarter. South Dakota Investment Council’s holdings in Sanmina were worth $1,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Sanmina during the third quarter worth $2,158,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Sanmina during the third quarter worth $272,000. Commonwealth Equity Services LLC raised its position in shares of Sanmina by 5.4% during the third quarter. Commonwealth Equity Services LLC now owns 12,726 shares of the electronics maker’s stock worth $691,000 after purchasing an additional 648 shares during the period. Raymond James & Associates raised its position in shares of Sanmina by 0.7% during the third quarter. Raymond James & Associates now owns 49,351 shares of the electronics maker’s stock worth $2,679,000 after purchasing an additional 345 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of Sanmina during the third quarter worth $203,000. Institutional investors own 92.71% of the company’s stock.

Insider Activity at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the 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 owns 7,811 shares in the company, valued at approximately $473,659.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Fox Advisors initiated coverage on Sanmina in a research report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target on the stock.

Sanmina Stock Up 1.1 %

NASDAQ:SANM opened at $61.66 on Thursday. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.96 and a beta of 1.04. Sanmina Co. has a 1-year low of $43.40 and a 1-year 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 business’s fifty day moving average price is $61.13 and its 200 day moving average price is $55.18.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, January 29th. The electronics maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The firm 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%. The business’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. On average, sell-side analysts forecast that Sanmina Co. will post 4.7 earnings per share for the current fiscal 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.