Massachusetts Financial Services Co. MA Cuts Holdings in Sanmina Co. (NASDAQ:SANM)

Massachusetts Financial Services Co. MA cut its position in shares of Sanmina Co. (NASDAQ:SANM) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,875 shares of the electronics maker’s stock after selling 1,038 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.08% of Sanmina worth $2,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. raised its position in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after acquiring an additional 149,600 shares during the period. Royce & Associates LP raised its position in Sanmina by 36.7% in the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after acquiring an additional 107,906 shares during the period. American Century Companies Inc. raised its position in 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 acquiring an additional 107,474 shares during the period. D. E. Shaw & Co. Inc. raised its position in 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 worth $77,399,000 after acquiring an additional 86,492 shares during the period. Finally, Phocas Financial Corp. bought a new stake in Sanmina in the third quarter worth about $5,340,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Stock Performance

NASDAQ SANM opened at $78.33 on Wednesday. The company’s 50 day moving average is $71.69 and its 200-day moving average is $69.40. Sanmina Co. has a 12-month low of $48.83 and a 12-month high of $86.05. The company has a quick ratio of 1.32, a current ratio of 2.05 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4.28 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89.

Sanmina (NASDAQ:SANM) last posted its quarterly 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. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that Sanmina Co. will post 4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com raised shares of Sanmina from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Craig Hallum lifted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th.

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.