State of Alaska Department of Revenue Sells 17,899 Shares of Sanmina Corporation (NASDAQ:SANM)

State of Alaska Department of Revenue lessened its stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 17.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 86,515 shares of the electronics maker's stock after selling 17,899 shares during the period. State of Alaska Department of Revenue owned about 0.16% of Sanmina worth $6,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sanmina in the fourth quarter valued at $90,000. Principal Securities Inc. lifted its holdings in shares of Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after purchasing an additional 166 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Sanmina by 283.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock valued at $108,000 after purchasing an additional 1,056 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,543 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 437 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Sanmina Stock Down 0.2%

Sanmina stock traded down $0.20 during mid-day trading on Friday, hitting $89.85. 845,051 shares of the company's stock were exchanged, compared to its average volume of 409,218. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. The stock has a market cap of $4.80 billion, a P/E ratio of 20.80, a P/E/G ratio of 1.39 and a beta of 1.14. Sanmina Corporation has a 1-year low of $61.52 and a 1-year high of $91.12. The stock has a 50 day moving average of $82.76 and a two-hundred day moving average of $80.78.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The business's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Sanmina Corporation will post 5.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SANM. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America upped their price target on shares of Sanmina from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th.

Sanmina 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.