Illinois Municipal Retirement Fund Lowers Holdings in Sanmina Co. (NASDAQ:SANM)

Illinois Municipal Retirement Fund lowered its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 18.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,656 shares of the electronics maker’s stock after selling 15,372 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Sanmina were worth $3,578,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SANM. Blue Trust Inc. boosted its position in Sanmina by 21.2% during the fourth quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after purchasing an additional 428 shares in the last quarter. CI Investments Inc. raised its holdings in shares of Sanmina by 3,686.4% during the third quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock valued at $166,000 after acquiring an additional 2,986 shares during the last quarter. GW Henssler & Associates Ltd. acquired a new position in shares of Sanmina during the third quarter valued at approximately $203,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Sanmina during the third quarter valued at approximately $232,000. Finally, Headlands Technologies LLC raised its holdings in shares of Sanmina by 31.7% during the third quarter. Headlands Technologies LLC now owns 4,294 shares of the electronics maker’s stock valued at $233,000 after acquiring an additional 1,034 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

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

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 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 sale, the director now directly owns 7,811 shares in the company, valued at $473,659.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.09% of the stock is owned by insiders.

Sanmina Trading Up 1.1 %

SANM opened at $61.66 on Thursday. Sanmina Co. has a 52 week low of $43.40 and a 52 week high of $69.69. The business has a fifty day simple moving average of $61.13 and a 200-day simple moving average of $55.18. The firm has a market cap 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. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14.

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

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.