Voya Investment Management LLC Lowers Stake in Sanmina Co. (NASDAQ:SANM)

Voya Investment Management LLC trimmed its position in Sanmina Co. (NASDAQ:SANM) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,687 shares of the electronics maker’s stock after selling 1,333 shares during the quarter. Voya Investment Management LLC’s holdings in Sanmina were worth $1,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Sanmina in the third quarter valued at approximately $32,000. R Squared Ltd purchased a new position in shares of Sanmina in the 4th quarter valued at $58,000. GAMMA Investing LLC raised its stake in shares of Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 352 shares during the period. Principal Securities Inc. boosted its position in Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after purchasing an additional 1,056 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Stock Performance

Sanmina stock opened at $78.86 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The firm’s fifty day moving average price is $76.38 and its 200 day moving average price is $78.57. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Sanmina Co. has a 12-month low of $61.52 and a 12-month high of $91.12.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina declared that its board has approved a share buyback program on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on SANM shares. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Insider Transactions at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.22% of the company’s stock.

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; 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.