Maryland State Retirement & Pension System Sells 2,483 Shares of Sanmina Corporation (NASDAQ:SANM)

Maryland State Retirement & Pension System cut its stake in Sanmina Corporation (NASDAQ:SANM - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,841 shares of the electronics maker's stock after selling 2,483 shares during the period. Maryland State Retirement & Pension System's holdings in Sanmina were worth $1,207,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Sanmina in the first quarter valued at approximately $90,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sanmina in the fourth quarter valued at approximately $90,000. CWM LLC lifted its stake in Sanmina by 26.1% in the first quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock valued at $112,000 after buying an additional 303 shares during the period. GAMMA Investing LLC lifted its stake in Sanmina by 34.1% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after buying an additional 437 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in Sanmina by 843.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after buying an additional 1,543 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wall Street Zen lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Bank of America boosted their price target on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th.

Sanmina Stock Up 3.9%

Shares of NASDAQ:SANM traded up $4.68 during trading on Tuesday, reaching $123.84. 950,045 shares of the stock were exchanged, compared to its average volume of 982,330. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. Sanmina Corporation has a 1-year low of $62.76 and a 1-year high of $124.10. The stock has a fifty day moving average of $101.01 and a two-hundred day moving average of $87.55. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.11. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Sanmina's revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

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.