New York State Common Retirement Fund Cuts Stock Holdings in Sanmina Co. (NASDAQ:SANM)

New York State Common Retirement Fund lowered its position in Sanmina Co. (NASDAQ:SANM) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,854 shares of the electronics maker’s stock after selling 1,251 shares during the period. New York State Common Retirement Fund owned about 0.65% of Sanmina worth $26,927,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after purchasing an additional 366,653 shares during the last quarter. Weiss Asset Management LP raised its stake in shares of Sanmina by 590.7% during the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after purchasing an additional 325,974 shares during the period. Global Alpha Capital Management Ltd. boosted its holdings in shares of 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 during the last quarter. Assenagon Asset Management S.A. grew its position in Sanmina by 88.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock valued at $20,040,000 after buying an additional 124,190 shares during the period. Finally, Royce & Associates LP increased its holdings in Sanmina by 36.7% during the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after buying an additional 107,906 shares during the last quarter. 92.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SANM. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Craig Hallum upped their price objective on Sanmina from $62.00 to $69.00 and gave the company 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 raised their target price for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th.

Insider Buying and Selling

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 sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.22% of the stock is owned by insiders.

Sanmina Price Performance

SANM opened at $85.72 on Friday. The firm has a 50-day moving average price of $81.96 and a 200-day moving average price of $75.09. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $91.12. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.32 and a beta of 0.92.

Sanmina declared that its board has approved a share repurchase plan on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.