Illinois Municipal Retirement Fund Sells 15,372 Shares of Sanmina Co. (NASDAQ:SANM)

Illinois Municipal Retirement Fund lessened its holdings in Sanmina Co. (NASDAQ:SANM) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,656 shares of the electronics maker’s stock after selling 15,372 shares during the quarter. Illinois Municipal Retirement Fund owned 0.12% of Sanmina worth $3,578,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SANM. FMR LLC lifted its position in 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 purchasing an additional 407,528 shares during the period. Earnest Partners LLC lifted its position in Sanmina by 19.1% during the third quarter. Earnest Partners LLC now owns 1,182,552 shares of the electronics maker’s stock worth $64,189,000 after purchasing an additional 189,832 shares during the period. New York State Common Retirement Fund lifted its position in Sanmina by 60.0% during the third quarter. New York State Common Retirement Fund now owns 367,621 shares of the electronics maker’s stock worth $19,954,000 after purchasing an additional 137,922 shares during the period. Assenagon Asset Management S.A. lifted its position in Sanmina by 25.3% during the third quarter. Assenagon Asset Management S.A. now owns 486,781 shares of the electronics maker’s stock worth $26,422,000 after purchasing an additional 98,264 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Sanmina by 56.9% during the third quarter. Envestnet Asset Management Inc. now owns 214,852 shares of the electronics maker’s stock worth $11,662,000 after purchasing an additional 77,889 shares during the period. Institutional investors 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 stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the completion of the sale, the director now owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.09% of the company’s stock.

Sanmina Stock Performance

Sanmina stock opened at $61.66 on Thursday. The business has a 50 day moving average of $61.13 and a 200-day moving average of $55.18. Sanmina Co. has a 1 year low of $43.40 and a 1 year high of $69.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.99 and a quick ratio of 1.23. The company has a market capitalization of $3.50 billion, a P/E ratio of 13.32, a P/E/G ratio of 0.96 and a beta of 1.04.

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

Analysts Set New Price Targets

Separately, Fox Advisors began coverage on shares of Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 target price for the company.

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.