Alliancebernstein L.P. reduced its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,888 shares of the electronics maker's stock after selling 11,162 shares during the quarter. Alliancebernstein L.P. owned 0.23% of Sanmina worth $9,375,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of SANM. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina during the third quarter valued at about $32,000. R Squared Ltd bought a new position in Sanmina during the 4th quarter worth approximately $58,000. GAMMA Investing LLC increased its stake in Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock worth $97,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. lifted its position in Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after purchasing an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Sanmina by 283.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $108,000 after purchasing an additional 1,056 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Eugene A. Delaney sold 11,712 shares of the company's stock in a transaction on 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 directly owns 65,408 shares of the company's stock, valued at $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction 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 sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,405 shares of company stock valued at $2,821,682 over the last three months. Corporate insiders own 3.22% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. StockNews.com cut shares of 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 boosted their price target for the company from $58.00 to $92.00 in a report on Wednesday, January 29th.
Get Our Latest Stock Report on Sanmina
Sanmina Trading Up 0.3 %
NASDAQ SANM traded up $0.19 during trading on Tuesday, hitting $75.99. The company had a trading volume of 90,752 shares, compared to its average volume of 392,357. The company's fifty day moving average is $79.47 and its 200-day moving average is $77.49. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00.
Sanmina announced that its Board of Directors has authorized a share buyback program on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.
Sanmina Company Profile
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Free Report)
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.
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