Teacher Retirement System of Texas Boosts Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Teacher Retirement System of Texas grew its position in shares of Sanmina Co. (NASDAQ:SANM) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,156 shares of the electronics maker’s stock after acquiring an additional 5,006 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sanmina were worth $7,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SANM. JPMorgan Chase & Co. boosted its holdings in Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after acquiring an additional 366,653 shares during the last quarter. Weiss Asset Management LP boosted its holdings in 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 acquiring an additional 325,974 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Sanmina by 88.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock worth $20,040,000 after acquiring an additional 124,190 shares during the last quarter. FMR LLC raised its stake in shares of Sanmina by 5.0% during the 3rd 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 during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Sanmina by 13.8% during the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock worth $50,239,000 after purchasing an additional 80,574 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the sale, the director now directly 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 is accessible through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the sale, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,405 shares of company stock worth $2,821,682. Company insiders own 3.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SANM shares. Bank of America upgraded 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 research note on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

Sanmina Trading Down 0.0 %

Shares of Sanmina stock opened at $78.31 on Friday. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The stock’s 50-day simple moving average is $82.34 and its 200 day simple moving average is $76.49. The stock has a market capitalization of $4.25 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.29 and a beta of 0.85. 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 announced that its Board of Directors has authorized a stock buyback plan on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership 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.