Rhumbline Advisers Sells 7,925 Shares of Sanmina Co. (NASDAQ:SANM)

Rhumbline Advisers lessened its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,547 shares of the electronics maker's stock after selling 7,925 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Sanmina worth $12,230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in Sanmina by 3.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker's stock valued at $416,000 after acquiring an additional 185 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Sanmina by 9.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker's stock worth $8,018,000 after purchasing an additional 8,962 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Sanmina in the 4th quarter worth approximately $820,000. Principal Securities Inc. raised its holdings in shares of Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after acquiring an additional 166 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Sanmina by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 285,846 shares of the electronics maker's stock valued at $21,630,000 after acquiring an additional 10,542 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Sanmina Trading Down 0.4%

Shares of NASDAQ:SANM traded down $0.33 during trading on Thursday, hitting $87.45. The company had a trading volume of 411,375 shares, compared to its average volume of 406,276. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The company has a fifty day simple moving average of $80.71 and a two-hundred day simple moving average of $80.32. Sanmina Co. has a one year low of $61.52 and a one year high of $91.12.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. Sanmina's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Sanmina from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Monday. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

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.