Sanmina Corporation (NASDAQ:SANM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in Sanmina Corporation (NASDAQ:SANM - Free Report) by 17.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor 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 0.16% of Sanmina worth $6,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Sanmina by 87.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker's stock worth $785,000 after purchasing an additional 4,810 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Sanmina by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker's stock valued at $397,000 after acquiring an additional 476 shares during the period. SummerHaven Investment Management LLC boosted its stake in Sanmina by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 11,709 shares of the electronics maker's stock valued at $892,000 after acquiring an additional 172 shares during the period. GAMMA Investing LLC boosted 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 acquiring an additional 437 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in Sanmina in the first quarter valued at approximately $215,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SANM. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America lifted their target price on Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, June 9th.

Sanmina Stock Performance

Shares of NASDAQ SANM traded up $1.86 during midday trading on Monday, hitting $91.71. 278,859 shares of the company's stock were exchanged, compared to its average volume of 406,576. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.22. The stock's 50 day moving average price is $82.76 and its 200-day moving average price is $80.80. The firm has a market cap of $4.90 billion, a P/E ratio of 21.23, a PEG ratio of 1.38 and a beta of 1.14. Sanmina Corporation has a twelve month low of $61.52 and a twelve month high of $91.72.

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

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.