Louisiana State Employees Retirement System Cuts Position in Sanmina Co. (NASDAQ:SANM)

Louisiana State Employees Retirement System lessened its holdings in Sanmina Co. (NASDAQ:SANM) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,400 shares of the electronics maker’s stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Sanmina were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SANM. GAMMA Investing LLC increased its stake in Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after buying an additional 257 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after buying an additional 164 shares in the last quarter. Innealta Capital LLC purchased a new stake in Sanmina during the 2nd quarter worth approximately $116,000. CWM LLC increased its stake in Sanmina by 40.5% during the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after buying an additional 513 shares in the last quarter. Finally, Highland Capital Management LLC purchased a new stake in Sanmina during the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Sanmina from a “buy” rating to a “hold” rating in a research note on Wednesday.

Sanmina Trading Up 2.3 %

Shares of Sanmina stock opened at $71.80 on Thursday. The stock has a market cap of $3.92 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.54 and a beta of 0.89. The stock’s 50 day simple moving average is $67.59 and its 200-day simple moving average is $67.13. Sanmina Co. has a 1-year low of $43.40 and a 1-year 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.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.03). The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Analysts predict that Sanmina Co. will post 4.24 EPS for the current fiscal year.

Insider Activity at Sanmina

In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the transaction, the executive vice president now directly owns 26,679 shares in the company, valued at approximately $1,836,849.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the transaction, the executive vice president now directly owns 26,679 shares in the company, valued at approximately $1,836,849.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jure Sola sold 82,328 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,632 shares of company stock worth $6,644,760. 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.