Sanmina Co. (NASDAQ:SANM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its position in Sanmina Co. (NASDAQ:SANM) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,324 shares of the electronics maker’s stock after selling 130 shares during the period. Maryland State Retirement & Pension System’s holdings in Sanmina were worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Xponance Inc. grew its holdings in Sanmina by 7.4% in the fourth quarter. Xponance Inc. now owns 4,535 shares of the electronics maker’s stock valued at $343,000 after purchasing an additional 314 shares during the period. William Blair Investment Management LLC grew its holdings in Sanmina by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 388,978 shares of the electronics maker’s stock valued at $29,434,000 after purchasing an additional 9,016 shares during the period. Cibc World Markets Corp purchased a new stake in Sanmina during the fourth quarter worth approximately $380,000. Royce & Associates LP grew its stake in Sanmina by 3.2% during the fourth quarter. Royce & Associates LP now owns 414,893 shares of the electronics maker’s stock worth $31,395,000 after buying an additional 12,795 shares during the period. Finally, Natixis Advisors LLC grew its stake in Sanmina by 3.2% during the fourth quarter. Natixis Advisors LLC now owns 15,908 shares of the electronics maker’s stock worth $1,204,000 after buying an additional 498 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Sanmina Price Performance

Shares of SANM stock opened at $78.31 on Friday. The company has a market capitalization of $4.25 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm has a fifty day simple moving average of $82.34 and a 200-day simple moving average of $76.49. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $91.12.

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

Insider Activity

In other news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were 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 of the company’s stock, valued at $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,405 shares of company stock worth $2,821,682. 3.22% of the stock is currently owned by company insiders.

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.