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

New York State Teachers Retirement System cut its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,600 shares of the electronics maker’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of Sanmina worth $2,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after acquiring an additional 513 shares during the last quarter. Creative Planning increased its holdings in shares of Sanmina by 13.2% in the 3rd quarter. Creative Planning now owns 23,836 shares of the electronics maker’s stock valued at $1,632,000 after acquiring an additional 2,772 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Sanmina in the 3rd quarter valued at approximately $207,000. Highland Capital Management LLC bought a new stake in shares of Sanmina in the 3rd quarter valued at approximately $205,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Sanmina by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 357,105 shares of the electronics maker’s stock valued at $24,444,000 after acquiring an additional 4,943 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Trading Down 3.2 %

Shares of SANM 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 1 year low of $57.52 and a 1 year high of $91.12. The stock has a fifty day moving average of $81.96 and a two-hundred day moving average of $75.09. The firm has a market capitalization of $4.66 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92.

Sanmina declared that its Board of Directors has initiated a share buyback program on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the transaction, the director now owns 77,120 shares in the company, valued at approximately $6,439,520. The trade was a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Sanmina Company 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.