Arizona State Retirement System decreased its position in Sanmina Corp (NASDAQ:SANM) by 64.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,428 shares of the electronics maker’s stock after selling 30,235 shares during the period. Arizona State Retirement System’s holdings in Sanmina were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in Sanmina by 9.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,637 shares of the electronics maker’s stock valued at $159,000 after acquiring an additional 416 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Sanmina by 1.0% during the fourth quarter. Texas Permanent School Fund now owns 47,865 shares of the electronics maker’s stock worth $1,639,000 after buying an additional 494 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Sanmina by 147.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 840 shares of the electronics maker’s stock worth $29,000 after buying an additional 500 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Sanmina by 2.5% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 21,300 shares of the electronics maker’s stock worth $729,000 after buying an additional 510 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Sanmina by 1.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 55,719 shares of the electronics maker’s stock worth $1,908,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 97.09% of the company’s stock.

In related news, SVP Brent Billinger sold 922 shares of Sanmina stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total value of $25,216.70. Following the sale, the senior vice president now owns 18,742 shares of the company’s stock, valued at approximately $512,593.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.73% of the company’s stock.

SANM has been the topic of a number of recent analyst reports. BidaskClub cut Sanmina from a “hold” rating to a “sell” rating in a report on Friday, April 17th. ValuEngine cut Sanmina from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup raised their target price on Sanmina from $22.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Zacks Investment Research cut Sanmina from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Finally, Cfra dropped their price target on Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, April 28th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Sanmina presently has a consensus rating of “Sell” and an average target price of $32.67.

NASDAQ SANM opened at $26.42 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.58 and a quick ratio of 1.16. The stock’s 50-day moving average is $26.35 and its 200-day moving average is $29.58. Sanmina Corp has a one year low of $18.34 and a one year high of $34.96.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 27th. The electronics maker reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.23). The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $1.64 billion. Sanmina had a return on equity of 10.40% and a net margin of 1.44%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. Equities analysts anticipate that Sanmina Corp will post 1.63 EPS for the current year.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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