State of Alaska Department of Revenue Sells 185 Shares of Sanmina Co. (NASDAQ:SANM)

State of Alaska Department of Revenue lowered its stake in shares of Sanmina Co. (NASDAQ:SANM) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,414 shares of the electronics maker’s stock after selling 185 shares during the period. State of Alaska Department of Revenue owned 0.19% of Sanmina worth $7,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SANM. The Manufacturers Life Insurance Company lifted its stake in shares of Sanmina by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,948 shares of the electronics maker’s stock worth $2,117,000 after purchasing an additional 583 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Sanmina by 24.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after purchasing an additional 164 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Sanmina during the second quarter valued at about $1,444,000. GAMMA Investing LLC boosted its holdings in shares of Sanmina by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock valued at $64,000 after buying an additional 437 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Sanmina by 5.0% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,788 shares of the electronics maker’s stock worth $328,000 after buying an additional 226 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SANM. Craig Hallum raised their target price on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the sale, the director now owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.22% of the company’s stock.

Sanmina Trading Up 0.6 %

Shares of Sanmina stock opened at $87.85 on Friday. The firm’s 50 day simple moving average is $79.90 and its two-hundred day simple moving average is $73.86. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.22 and a beta of 0.92. Sanmina Co. has a 12-month low of $57.28 and a 12-month high of $90.78. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Analysts predict that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina announced that its Board of Directors has authorized a stock repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.