Illinois Municipal Retirement Fund Sells 1,632 Shares of Sanmina Co. (NASDAQ:SANM)

Illinois Municipal Retirement Fund decreased its position in shares of Sanmina Co. (NASDAQ:SANM) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,849 shares of the electronics maker’s stock after selling 1,632 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Sanmina worth $2,183,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund raised its position in shares of Sanmina by 1.4% during 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 purchasing an additional 4,943 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Sanmina by 16.3% in the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock worth $146,000 after acquiring an additional 299 shares during the period. QRG Capital Management Inc. grew its position in shares of Sanmina by 9.7% during the third quarter. QRG Capital Management Inc. now owns 5,888 shares of the electronics maker’s stock worth $403,000 after purchasing an additional 523 shares in the last quarter. Assetmark Inc. lifted its holdings in Sanmina by 10.2% in the 3rd quarter. Assetmark Inc. now owns 82,442 shares of the electronics maker’s stock worth $5,643,000 after purchasing an additional 7,610 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in Sanmina by 6.6% in the 3rd quarter. Atria Investments Inc now owns 19,757 shares of the electronics maker’s stock worth $1,352,000 after purchasing an additional 1,226 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

SANM has been the topic of several recent analyst reports. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Craig Hallum boosted their price target on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Trading Down 2.8 %

Shares of SANM opened at $81.89 on Friday. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two 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 company’s fifty day moving average is $82.48 and its 200 day moving average is $75.65. The stock has a market capitalization of $4.45 billion, a PE ratio of 20.02, a P/E/G ratio of 1.29 and a beta of 0.92.

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

Insider Transactions at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the sale, the director now directly owns 80,295 shares of the company’s stock, valued at $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the sale, the director now directly owns 65,408 shares of the company’s stock, valued at $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,103 shares of company stock worth $2,798,896 in the last three months. Insiders own 3.22% of the company’s stock.

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.