Sanmina Co. (NASDAQ:SANM) Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in Sanmina Co. (NASDAQ:SANM) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,600 shares of the electronics maker’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Sanmina were worth $2,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Sanmina in the 4th quarter worth $820,000. Allspring Global Investments Holdings LLC raised its position in shares of Sanmina by 9.2% during 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 period. TFG Advisers LLC raised its position in shares of Sanmina by 4.8% during the fourth quarter. TFG Advisers LLC now owns 4,381 shares of the electronics maker’s stock worth $332,000 after purchasing an additional 202 shares during the period. Hantz Financial Services Inc. raised its position in shares of Sanmina by 23.3% during the fourth quarter. Hantz Financial Services Inc. now owns 30,437 shares of the electronics maker’s stock worth $2,303,000 after purchasing an additional 5,751 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Sanmina during the fourth quarter worth $58,000. Institutional investors own 92.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SANM shares. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and upped their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Craig Hallum boosted their target price on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares in the company, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.22% of the stock is currently owned by corporate insiders.

Sanmina Stock Performance

Shares of NASDAQ SANM opened at $85.72 on Friday. The company has a market capitalization of $4.66 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92. The business’s 50-day moving average price is $81.96 and its two-hundred day moving average price is $75.09. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30.

Sanmina announced that its board has initiated a stock repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.