Invenomic Capital Management LP Trims Stock Position in Sanmina Co. (NASDAQ:SANM)

Invenomic Capital Management LP lowered its position in shares of Sanmina Co. (NASDAQ:SANM) by 69.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,178 shares of the electronics maker’s stock after selling 164,806 shares during the period. Invenomic Capital Management LP owned 0.13% of Sanmina worth $4,488,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in Sanmina during the fourth quarter valued at approximately $64,000. Delta Asset Management LLC TN purchased a new position in Sanmina in the 4th quarter worth approximately $85,000. Quest Partners LLC purchased a new position in Sanmina in the 4th quarter worth approximately $126,000. Blue Trust Inc. grew its stake in Sanmina by 21.2% in the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after buying an additional 428 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in Sanmina in the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on SANM shares. StockNews.com cut shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Craig Hallum restated a “hold” rating and issued a $62.00 price objective on shares of Sanmina in a report on Tuesday, April 30th.

Sanmina Trading Down 1.9 %

Shares of SANM traded down $1.39 during mid-day trading on Tuesday, reaching $73.57. The company’s stock had a trading volume of 821,419 shares, compared to its average volume of 431,884. The stock has a market cap of $4.11 billion, a PE ratio of 17.72, a P/E/G ratio of 1.67 and a beta of 0.92. The company has a current ratio of 2.00, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. Sanmina Co. has a 52 week low of $43.40 and a 52 week high of $76.56. The company’s fifty day moving average price is $68.22 and its two-hundred day moving average price is $63.05.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The company’s revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. On average, analysts predict that Sanmina Co. will post 4.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sanmina news, Director Eugene A. Delaney sold 7,181 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the transaction, the director now directly owns 100,887 shares in the company, valued at approximately $6,548,575.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eugene A. Delaney sold 7,181 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the sale, the director now directly owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the sale, the executive vice president now directly owns 37,651 shares in the company, valued at $2,463,504.93. The disclosure for this sale can be found here. Company insiders own 3.09% 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.