Wedge Capital Management L L P NC Trims Stake in Sanmina Co. (NASDAQ:SANM)

Wedge Capital Management L L P NC cut its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 47.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 (SEC).

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

Sanmina Price Performance

SANM stock traded down $1.12 during trading on Friday, hitting $86.33. 654,948 shares of the company's stock traded hands, compared to its average volume of 405,921. Sanmina Co. has a 52 week low of $61.52 and a 52 week high of $91.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The business has a fifty day simple moving average of $81.04 and a 200 day simple moving average of $80.37. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.29 and a beta of 1.14.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, beating 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 business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business earned $1.30 earnings per share. Sanmina's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts expect that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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 raised their target price on shares of Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday.

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.