State of Tennessee Department of Treasury Has $1.26 Million Stake in Sanmina Co. (NASDAQ:SANM)

State of Tennessee Department of Treasury trimmed its stake in Sanmina Co. (NASDAQ:SANM) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,591 shares of the electronics maker’s stock after selling 7,310 shares during the period. State of Tennessee Department of Treasury’s holdings in Sanmina were worth $1,255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in Sanmina by 14.2% during the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock valued at $148,239,000 after acquiring an additional 243,258 shares during the last quarter. Franklin Resources Inc. boosted its position in Sanmina by 39.6% during the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock valued at $139,407,000 after acquiring an additional 522,534 shares during the last quarter. Geode Capital Management LLC boosted its position in Sanmina by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock valued at $116,277,000 after acquiring an additional 21,239 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Sanmina by 32.4% during the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker’s stock valued at $51,092,000 after acquiring an additional 165,285 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Sanmina by 13.8% during the fourth quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock valued at $50,239,000 after acquiring an additional 80,574 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Price Performance

SANM stock opened at $76.79 on Thursday. The stock has a market capitalization of $4.17 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00. The company’s 50-day moving average is $76.69 and its 200-day moving average is $78.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. Sanmina Co. has a 1 year low of $59.41 and a 1 year high of $91.12.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina announced that its board has approved a stock buyback plan on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

SANM has been the topic of a number of research analyst reports. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and upped their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

Insider Buying and Selling

In related news, Director Mario M. Rosati sold 11,391 shares of the company’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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eugene A. Delaney sold 11,712 shares of the company’s 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 completion of the sale, the director now owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,405 shares of company stock worth $1,986,682 in the last quarter. 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.