Public Sector Pension Investment Board Increases Stake in Sanmina Co. (NASDAQ:SANM)

Public Sector Pension Investment Board increased its position in shares of Sanmina Co. (NASDAQ:SANM) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 121,996 shares of the electronics maker’s stock after purchasing an additional 7,670 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Sanmina worth $8,082,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 257 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Sanmina during the second quarter valued at $116,000. Quest Partners LLC purchased a new stake in shares of Sanmina during the fourth quarter valued at $126,000. TFO Wealth Partners LLC grew its holdings in shares of Sanmina by 70,240.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock worth $181,000 after purchasing an additional 3,512 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Sanmina by 70.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock worth $194,000 after buying an additional 1,288 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Sanmina Stock Up 0.6 %

NASDAQ:SANM opened at $69.26 on Wednesday. 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 firm has a market cap of $3.79 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.88 and a beta of 0.90. The company has a 50-day moving average of $69.28 and a 200 day moving average of $65.96. Sanmina Co. has a 1-year low of $43.40 and a 1-year high of $76.84.

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

Insider Transactions at Sanmina

In other Sanmina news, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction dated Friday, August 9th. The stock was 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 owns 1,198,594 shares in the company, valued at $83,506,043.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eugene A. Delaney sold 8,688 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total transaction of $650,123.04. Following the transaction, the director now directly owns 92,199 shares of the company’s stock, valued at $6,899,251.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jure Sola sold 82,328 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the completion of the sale, the chief executive officer now directly owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. The disclosure for this sale can be found here. In the last three months, insiders sold 104,320 shares of company stock valued at $7,294,883. Corporate insiders own 3.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.