Wedge Capital Management L L P NC Sells 26,451 Shares of Sanmina Co. (NASDAQ:SANM)

Wedge Capital Management L L P NC trimmed its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 47.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,767 shares of the electronics maker's stock after selling 26,451 shares during the period. Wedge Capital Management L L P NC owned about 0.05% of Sanmina worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Sanmina in the 4th quarter valued at about $48,823,000. Franklin Resources Inc. raised its stake in shares of Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock worth $139,407,000 after purchasing an additional 522,534 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Sanmina in the fourth quarter worth approximately $34,868,000. FMR LLC lifted its holdings in shares of Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock valued at $148,239,000 after purchasing an additional 243,258 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Sanmina during the fourth quarter valued at approximately $12,928,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on SANM shares. 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 increased their target price on shares of Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Monday.

Sanmina Stock Performance

Shares of NASDAQ SANM traded up $0.13 during midday trading on Thursday, reaching $87.91. The company's stock had a trading volume of 136,158 shares, compared to its average volume of 405,211. The stock has a market capitalization of $4.70 billion, a P/E ratio of 21.49, a PEG 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 firm has a 50 day moving average price of $80.71 and a 200-day moving average price of $80.32. Sanmina Co. has a 12-month low of $61.52 and a 12-month 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 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business's revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that Sanmina Co. will post 5.15 earnings per share 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.