State Board of Administration of Florida Retirement System Trims Stock Position in Sanmina Co. (NASDAQ:SANM)

State Board of Administration of Florida Retirement System cut its position in Sanmina Co. (NASDAQ:SANM) by 18.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,872 shares of the electronics maker’s stock after selling 6,520 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Sanmina were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Sanmina by 35.5% during the 1st quarter. International Assets Investment Management LLC now owns 2,100 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 550 shares in the last quarter. Veriti Management LLC bought a new stake in Sanmina during the fourth quarter valued at $78,000. Vantage Consulting Group Inc purchased a new position in Sanmina during the fourth quarter worth about $98,000. Nisa Investment Advisors LLC increased its stake in Sanmina by 20.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,790 shares of the electronics maker’s stock worth $121,000 after acquiring an additional 650 shares during the last quarter. Finally, First Bank & Trust boosted its position in shares of Sanmina by 34.7% during the 1st quarter. First Bank & Trust now owns 4,794 shares of the electronics maker’s stock valued at $198,000 after acquiring an additional 1,234 shares during the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.

SANM has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Sanmina from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Friday, May 7th. Argus cut shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Tuesday, February 16th. Finally, Craig Hallum increased their target price on Sanmina from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Shares of NASDAQ:SANM opened at $41.76 on Friday. The company has a market capitalization of $2.72 billion, a PE ratio of 14.86, a P/E/G ratio of 0.96 and a beta of 1.13. The company’s 50-day moving average is $41.74. The company has a quick ratio of 1.46, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Sanmina Co. has a 12-month low of $23.75 and a 12-month high of $43.36.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Sunday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.18. Sanmina had a return on equity of 14.47% and a net margin of 2.74%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.32 EPS. Sanmina’s revenue for the quarter was down 34.4% compared to the same quarter last year. As a group, research analysts expect that Sanmina Co. will post 3.68 EPS for the current fiscal year.

About Sanmina

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; manufacturing of components, subassemblies, and complete systems; high-level 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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