Systematic Financial Management LP Sells 10,840 Shares of Sanmina Corp (NASDAQ:SANM)

Systematic Financial Management LP lowered its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 26.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,010 shares of the electronics maker’s stock after selling 10,840 shares during the period. Systematic Financial Management LP’s holdings in Sanmina were worth $909,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SANM. Virginia Retirement Systems ET AL increased its stake in shares of Sanmina by 21.6% in the second quarter. Virginia Retirement Systems ET AL now owns 28,200 shares of the electronics maker’s stock worth $854,000 after purchasing an additional 5,000 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of Sanmina in the second quarter worth $1,325,000. Arizona State Retirement System increased its stake in shares of Sanmina by 1.4% in the second quarter. Arizona State Retirement System now owns 107,041 shares of the electronics maker’s stock worth $3,241,000 after purchasing an additional 1,478 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Sanmina by 1.8% during the second quarter. State of Alaska Department of Revenue now owns 23,490 shares of the electronics maker’s stock worth $711,000 after acquiring an additional 426 shares during the last quarter. Finally, Foundry Partners LLC boosted its position in shares of Sanmina by 7.9% during the second quarter. Foundry Partners LLC now owns 432,179 shares of the electronics maker’s stock worth $13,086,000 after acquiring an additional 31,800 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:SANM traded down $0.21 during midday trading on Friday, reaching $30.10. 239,247 shares of the company were exchanged, compared to its average volume of 462,889. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average is $30.57. Sanmina Corp has a one year low of $22.30 and a one year high of $34.71. The firm has a market capitalization of $2.11 billion, a PE ratio of 16.36, a PEG ratio of 0.85 and a beta of 1.33.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Sanmina had a net margin of 1.55% and a return on equity of 13.98%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. Sanmina’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Sanmina Corp will post 2.98 earnings per share for the current fiscal year.

In related news, SVP Brent Billinger sold 931 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $30.12, for a total transaction of $28,041.72. Following the completion of the transaction, the senior vice president now owns 20,877 shares in the company, valued at $628,815.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.55% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on SANM shares. TheStreet upgraded shares of Sanmina from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, BidaskClub lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system 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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