State of New Jersey Common Pension Fund D Reduces Position in Sanmina Corporation $SANM

State of New Jersey Common Pension Fund D cut its position in shares of Sanmina Corporation (NASDAQ:SANM) by 2.1% in the second quarter, Holdings Channel.com reports. The firm owned 22,302 shares of the electronics maker’s stock after selling 486 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sanmina were worth $2,182,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Moloney Securities Asset Management LLC boosted its stake in shares of Sanmina by 3.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 3,668 shares of the electronics maker’s stock worth $359,000 after purchasing an additional 138 shares during the period. First Citizens Bank & Trust Co. boosted its position in Sanmina by 198.1% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 8,430 shares of the electronics maker’s stock valued at $825,000 after buying an additional 5,602 shares during the period. Freedom Investment Management Inc. boosted its position in Sanmina by 8.3% in the 2nd quarter. Freedom Investment Management Inc. now owns 5,683 shares of the electronics maker’s stock valued at $556,000 after buying an additional 437 shares during the period. Sanders Morris Harris LLC bought a new stake in shares of Sanmina in the 2nd quarter valued at about $293,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Sanmina in the 2nd quarter valued at about $235,000. 92.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Sanmina in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Bank of America boosted their price objective on shares of Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.50.

Sanmina Stock Down 0.1%

NASDAQ:SANM opened at $134.89 on Wednesday. The company has a market cap of $7.19 billion, a PE ratio of 28.88, a P/E/G ratio of 1.40 and a beta of 1.19. Sanmina Corporation has a twelve month low of $63.67 and a twelve month high of $160.25. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $121.47 and its two-hundred day moving average is $103.33.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.11. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.98 billion. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. Sanmina’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. Analysts anticipate that Sanmina Corporation will post 5.15 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 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.