Illinois Municipal Retirement Fund Sells 1,632 Shares of Sanmina Co. (NASDAQ:SANM)

Illinois Municipal Retirement Fund lessened its stake in shares of Sanmina Co. (NASDAQ:SANM) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,849 shares of the electronics maker’s stock after selling 1,632 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Sanmina were worth $2,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SANM. Navellier & Associates Inc. lifted its stake in shares of Sanmina by 30.4% during the 4th quarter. Navellier & Associates Inc. now owns 5,326 shares of the electronics maker’s stock worth $403,000 after purchasing an additional 1,242 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of 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 buying an additional 80,574 shares during the last quarter. First Bank & Trust bought a new stake in shares of Sanmina in the 4th quarter valued at about $208,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Sanmina in the 4th quarter worth approximately $820,000. Finally, Empower Advisory Group LLC raised its stake in shares of Sanmina by 1.8% during the 4th quarter. Empower Advisory Group LLC now owns 267,063 shares of the electronics maker’s stock worth $20,209,000 after acquiring an additional 4,811 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

Insider Transactions at Sanmina

In other news, 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 value of $984,042.24. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction that occurred 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 transaction, the director now owns 80,295 shares of the company’s stock, 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. Insiders sold a total of 33,103 shares of company stock worth $2,798,896 over the last three months. 3.22% of the stock is currently owned by insiders.

Sanmina Price Performance

Shares of SANM opened at $81.89 on Friday. The firm has a market capitalization of $4.45 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The company’s fifty day moving average price is $82.48 and its 200-day moving average price is $75.65. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12.

Sanmina declared that its Board of Directors has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.