Shellback Capital LP Sells 60,000 Shares of Sanmina Co. (NASDAQ:SANM)

Shellback Capital LP lessened its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 61.2% in the second quarter, HoldingsChannel.com reports. The firm owned 38,086 shares of the electronics maker’s stock after selling 60,000 shares during the period. Shellback Capital LP’s holdings in Sanmina were worth $2,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Sanmina during the fourth quarter valued at about $21,836,000. Invenomic Capital Management LP acquired a new position in Sanmina during the 4th quarter valued at about $12,174,000. Vanguard Group Inc. increased its holdings in Sanmina by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 7,108,722 shares of the electronics maker’s stock worth $365,175,000 after purchasing an additional 130,797 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Sanmina by 14.0% in the second quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock worth $57,977,000 after purchasing an additional 107,474 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Sanmina by 8.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock valued at $77,399,000 after purchasing an additional 86,492 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Sanmina Stock Up 2.1 %

SANM opened at $68.86 on Friday. Sanmina Co. has a fifty-two week low of $43.40 and a fifty-two week high of $76.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. The company’s 50-day moving average is $69.18 and its 200 day moving average is $65.97. The firm has a market capitalization of $3.84 billion, a P/E ratio of 16.28, a PEG ratio of 1.88 and a beta of 0.90.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $1.37 earnings per share. The business’s revenue was down 16.6% compared to the same quarter last year. Research analysts expect that Sanmina Co. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a report on Friday, July 19th.

Insider Transactions at Sanmina

In related news, CEO Jure Sola sold 82,328 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the transaction, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Sanmina news, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total value of $5,735,791.76. Following the transaction, the chief executive officer now directly owns 1,198,594 shares in the company, valued at $83,506,043.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total transaction of $323,674.17. Following the sale, the director now owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. The disclosure for this sale can be found here. Insiders have sold 104,320 shares of company stock worth $7,294,883 in the last ninety days. Company insiders own 3.09% of the company’s stock.

Sanmina 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.