Everence Capital Management Inc. Trims Holdings in Sanmina Co. (NASDAQ:SANM)

Everence Capital Management Inc. trimmed its holdings in Sanmina Co. (NASDAQ:SANM) by 39.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,940 shares of the electronics maker’s stock after selling 5,150 shares during the quarter. Everence Capital Management Inc.’s holdings in Sanmina were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of SANM. Citigroup Inc. lifted its holdings in shares of Sanmina by 64.6% during the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock valued at $5,061,000 after purchasing an additional 29,028 shares during the last quarter. Geode Capital Management LLC raised its stake in Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after buying an additional 35,622 shares during the last quarter. Barclays PLC boosted its holdings in Sanmina by 296.3% in the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after acquiring an additional 69,431 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sanmina in the third quarter worth $2,224,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Sanmina by 40.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,692 shares of the electronics maker’s stock valued at $2,298,000 after acquiring an additional 10,000 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Trading Up 1.1 %

Sanmina stock opened at $76.30 on Friday. The business’s fifty day moving average is $77.73 and its 200 day moving average is $71.59. Sanmina Co. has a one year low of $48.83 and a one year high of $86.05. The stock has a market capitalization of $4.11 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.99 and a quick ratio of 1.25.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, sell-side analysts predict that Sanmina Co. will post 4.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Craig Hallum upped their price target on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a report on Thursday, November 21st.

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.