Rhumbline Advisers Reduces Holdings in Sanmina Co. (SANM)

Rhumbline Advisers cut its holdings in Sanmina Co. (NASDAQ:SANM) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,265 shares of the electronics maker’s stock after selling 1,810 shares during the quarter. Rhumbline Advisers owned about 0.25% of Sanmina worth $4,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE increased its stake in Sanmina by 67.8% in the 4th quarter. US Bancorp DE now owns 5,747 shares of the electronics maker’s stock worth $190,000 after purchasing an additional 2,322 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in Sanmina in the 4th quarter worth about $214,000. JOYN Advisors Inc. purchased a new position in Sanmina in the 4th quarter worth about $215,000. Unison Advisors LLC purchased a new position in Sanmina in the 4th quarter worth about $216,000. Finally, Connable Office Inc. increased its stake in Sanmina by 33.6% in the 4th quarter. Connable Office Inc. now owns 9,318 shares of the electronics maker’s stock worth $307,000 after purchasing an additional 2,344 shares in the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina opened at $29.40 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.55. Sanmina Co. has a fifty-two week low of $24.60 and a fifty-two week high of $42.95. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.59.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, April 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Sanmina had a positive return on equity of 10.99% and a negative net margin of 0.99%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. equities analysts forecast that Sanmina Co. will post 1.76 earnings per share for the current fiscal year.

In other Sanmina news, Director Joseph G. Licata, Jr. sold 18,444 shares of Sanmina stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $27.49, for a total transaction of $507,025.56. Following the transaction, the director now owns 48,787 shares of the company’s stock, valued at approximately $1,341,154.63. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.12% of the company’s stock.

SANM has been the topic of a number of analyst reports. ValuEngine cut Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Sanmina from a “hold” rating to a “strong sell” rating in a research note on Friday, February 2nd. BidaskClub raised Sanmina from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. Citigroup raised Sanmina from a “neutral” rating to a “buy” rating in a research note on Friday, April 13th. Finally, Needham & Company LLC lifted their price target on Sanmina from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.80.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, 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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