Teacher Retirement System of Texas Increases Position in Sanmina Co. (NASDAQ:SANM)

Teacher Retirement System of Texas boosted its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 5.3% in the 4th quarter, according to its most recent 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 period. Teacher Retirement System of Texas owned about 0.18% of Sanmina worth $7,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. grew its stake in shares of Sanmina by 7.4% in the fourth quarter. Xponance Inc. now owns 4,535 shares of the electronics maker's stock valued at $343,000 after buying an additional 314 shares in the last quarter. William Blair Investment Management LLC increased its stake in Sanmina by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 388,978 shares of the electronics maker's stock worth $29,434,000 after purchasing an additional 9,016 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Sanmina during the fourth quarter worth about $380,000. Royce & Associates LP boosted its stake in shares of Sanmina by 3.2% in the fourth quarter. Royce & Associates LP now owns 414,893 shares of the electronics maker's stock valued at $31,395,000 after purchasing an additional 12,795 shares during the period. Finally, Natixis Advisors LLC increased its stake in Sanmina by 3.2% during the 4th quarter. Natixis Advisors LLC now owns 15,908 shares of the electronics maker's stock worth $1,204,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 92.71% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently commented on SANM shares. StockNews.com downgraded 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 raised their price target for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Buying and Selling

In other news, Director Mario M. Rosati sold 11,391 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the sale, the director now owns 65,408 shares of the company's stock, valued at approximately $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 33,405 shares of company stock worth $2,821,682 in the last quarter. 3.22% of the stock is owned by insiders.

Sanmina Stock Performance

Shares of SANM stock traded down $0.79 during mid-day trading on Thursday, hitting $77.74. 340,878 shares of the stock were exchanged, compared to its average volume of 369,575. The stock's fifty day simple moving average is $82.21 and its two-hundred day simple moving average is $76.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.29 and a beta of 0.85.

Sanmina declared that its Board of Directors has initiated a share repurchase program on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is 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.