New York State Common Retirement Fund Lowers Position in Sanmina Co. (NASDAQ:SANM)

New York State Common Retirement Fund trimmed its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355,854 shares of the electronics maker’s stock after selling 1,251 shares during the quarter. New York State Common Retirement Fund’s holdings in Sanmina were worth $26,927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Sanmina by 5.0% during the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock worth $117,444,000 after purchasing an additional 82,409 shares in the last quarter. Geode Capital Management LLC raised its stake in Sanmina by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Franklin Resources Inc. lifted its position in Sanmina by 6.4% during the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock valued at $89,018,000 after purchasing an additional 79,565 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in Sanmina by 19.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after buying an additional 149,600 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Sanmina by 255.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after buying an additional 366,653 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.

Sanmina Price Performance

Shares of Sanmina stock opened at $85.72 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The company has a fifty day moving average of $81.96 and a 200-day moving average of $75.09. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92.

Sanmina announced that its board has authorized a share repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Sanmina

In related news, Director Eugene A. Delaney sold 11,712 shares of the 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 directly owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SANM. Craig Hallum lifted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

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.