Seven Eight Capital LP Has $356,000 Stake in Sanmina Co. (NASDAQ:SANM)

Seven Eight Capital LP cut its stake in shares of Sanmina Co. (NASDAQ:SANM) by 68.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,369 shares of the electronics maker’s stock after selling 11,891 shares during the quarter. Seven Eight Capital LP’s holdings in Sanmina were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Sanmina by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock worth $444,876,000 after acquiring an additional 45,918 shares during the period. American Century Companies Inc. lifted its position in shares of Sanmina by 14.0% in the 2nd 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 period. Global Alpha Capital Management Ltd. boosted its stake in shares of Sanmina by 10.2% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock valued at $46,460,000 after purchasing an additional 69,300 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Sanmina by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock worth $38,323,000 after buying an additional 59,849 shares during the period. Finally, Norges Bank bought a new position in Sanmina during the fourth quarter worth $21,836,000. Institutional investors own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sanmina Stock Performance

NASDAQ:SANM opened at $69.03 on Monday. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.85 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.84 and a beta of 0.90. The company has a fifty day moving average of $69.43 and a 200-day moving average of $65.91. Sanmina Co. has a twelve month low of $43.40 and a twelve month high of $76.84.

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

Insider Buying and Selling

In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the transaction, the director now owns 19,166 shares in the company, valued at $1,291,596.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of the business’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 completion of the sale, the director now directly owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jure Sola sold 82,328 shares of Sanmina 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 transaction, the chief executive officer now directly owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. The disclosure for this sale can be found here. Insiders have sold a total of 104,320 shares of company stock worth $7,294,883 in the last ninety days. Corporate insiders own 3.09% of the company’s stock.

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.