Teacher Retirement System of Texas Acquires 5,006 Shares of Sanmina Co. (NASDAQ:SANM)

Teacher Retirement System of Texas grew its position in shares of Sanmina Co. (NASDAQ:SANM) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,156 shares of the electronics maker’s stock after purchasing an additional 5,006 shares during the quarter. Teacher Retirement System of Texas owned about 0.18% of Sanmina worth $7,503,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Sanmina during the 3rd quarter worth approximately $32,000. R Squared Ltd bought a new position in Sanmina during the 4th quarter worth approximately $58,000. GAMMA Investing LLC raised its holdings in Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after purchasing an additional 352 shares during the last quarter. Principal Securities Inc. raised its holdings in Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after purchasing an additional 1,056 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.

Insider Activity

In related news, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction 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 sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction on Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the completion of the sale, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock worth $2,821,682 in the last quarter. 3.22% of the stock is owned by corporate insiders.

Sanmina Stock Performance

NASDAQ:SANM opened at $78.31 on Friday. The company has a fifty day moving average of $82.34 and a 200-day moving average of $76.49. The firm 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 quick ratio of 1.30, a current ratio of 2.06 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 allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

SANM has been the subject of several research analyst reports. StockNews.com lowered 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 lifted their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Sanmina 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.