New York State Teachers Retirement System Has $1.90 Million Position in Sanmina Co. (NASDAQ:SANM)

New York State Teachers Retirement System lowered its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,901 shares of the electronics maker’s stock after selling 5,500 shares during the quarter. New York State Teachers Retirement System owned 0.06% of Sanmina worth $1,896,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Qube Research & Technologies Ltd raised its position in shares of Sanmina by 86.2% during the third quarter. Qube Research & Technologies Ltd now owns 71,294 shares of the electronics maker’s stock worth $3,870,000 after purchasing an additional 32,998 shares during the period. FMR LLC grew its holdings in shares of Sanmina by 498.3% during the third quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock worth $26,560,000 after buying an additional 407,528 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Sanmina by 19.1% during the third quarter. Sei Investments Co. now owns 256,717 shares of the electronics maker’s stock worth $13,935,000 after buying an additional 41,216 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Sanmina by 18.3% during the third quarter. Hsbc Holdings PLC now owns 61,689 shares of the electronics maker’s stock worth $3,374,000 after buying an additional 9,545 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Sanmina by 241.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,695 shares of the electronics maker’s stock worth $4,380,000 after buying an additional 57,095 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now directly owns 7,811 shares in the company, valued at $473,659.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.09% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Fox Advisors started coverage on Sanmina in a report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price objective for the company.

Sanmina Stock Down 0.7 %

NASDAQ:SANM opened at $57.91 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.23 and a current ratio of 1.99. The stock has a 50-day simple moving average of $61.19 and a 200 day simple moving average of $54.95. The company has a market cap of $3.29 billion, a PE ratio of 12.51, a PEG ratio of 0.92 and a beta of 1.04. Sanmina Co. has a 52-week low of $43.40 and a 52-week high of $69.69.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.87 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The business’s revenue was down 20.4% compared to the same quarter last year. During the same period last year, the company earned $1.49 earnings per share. On average, sell-side analysts expect that Sanmina Co. will post 4.7 EPS for the current fiscal year.

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.