State of Tennessee Department of Treasury Decreases Stock Position in Sanmina Co. (NASDAQ:SANM)

State of Tennessee Department of Treasury trimmed its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 30.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,591 shares of the electronics maker's stock after selling 7,310 shares during the quarter. State of Tennessee Department of Treasury's holdings in Sanmina were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock valued at $6,358,000 after purchasing an additional 69,431 shares during the period. JPMorgan Chase & Co. grew its holdings in Sanmina by 255.9% in 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. Nisa Investment Advisors LLC grew its holdings in Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock worth $166,000 after acquiring an additional 125 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Sanmina by 88.3% in 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 acquiring an additional 124,190 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Sanmina by 32.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,724 shares of the electronics maker's stock valued at $357,000 after acquiring an additional 1,168 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SANM has been the subject of a number of recent analyst reports. 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 upped their target price for the company from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Stock Up 2.2 %

Shares of NASDAQ SANM traded up $1.72 during mid-day trading on Friday, hitting $80.23. 336,239 shares of the stock traded hands, compared to its average volume of 391,135. The stock has a fifty day moving average price of $76.49 and a 200-day moving average price of $78.34. 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 has a market cap of $4.29 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.29 and a beta of 1.10. Sanmina Co. has a 52 week low of $61.52 and a 52 week high of $91.12.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the company earned $1.30 earnings per share. The company's revenue was up 8.1% on a year-over-year basis. Research analysts anticipate that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina announced that its Board of Directors has authorized a share repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Sanmina

In other Sanmina news, Director Eugene A. Delaney sold 11,712 shares of the company'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 transaction, the director now directly owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,405 shares of company stock worth $1,986,682. Corporate insiders own 3.22% of the company's stock.

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.