South Dakota Investment Council Sells 22,000 Shares of Sanmina Co. (NASDAQ:SANM)

South Dakota Investment Council reduced its position in shares of Sanmina Co. (NASDAQ:SANM) by 36.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,063 shares of the electronics maker’s stock after selling 22,000 shares during the period. South Dakota Investment Council owned 0.07% of Sanmina worth $1,955,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Sanmina by 21.2% in the fourth quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 428 shares during the period. CI Investments Inc. raised its position in shares of Sanmina by 3,686.4% in the third quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock valued at $166,000 after purchasing an additional 2,986 shares during the period. GW Henssler & Associates Ltd. bought a new stake in shares of Sanmina in the third quarter valued at approximately $203,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Sanmina in the third quarter valued at approximately $232,000. Finally, Headlands Technologies LLC raised its position in shares of Sanmina by 31.7% in the third quarter. Headlands Technologies LLC now owns 4,294 shares of the electronics maker’s stock valued at $233,000 after purchasing an additional 1,034 shares during the period. Institutional investors own 92.71% of the company’s stock.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $61.66 on Thursday. The company has a 50 day moving average of $61.13 and a 200 day moving average of $55.18. The stock has a market cap of $3.50 billion, a P/E ratio of 13.32, a P/E/G ratio of 0.96 and a beta of 1.04. Sanmina Co. has a 12 month low of $43.40 and a 12 month high of $69.69. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, January 29th. The electronics maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. Sanmina’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. As a group, sell-side analysts forecast that Sanmina Co. will post 4.7 EPS for the current fiscal year.

Insider Activity at Sanmina

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Fox Advisors initiated coverage on shares of Sanmina in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target on the stock.

Sanmina Company Profile

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.