American Century Companies Inc. lessened its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 855,680 shares of the electronics maker's stock after selling 6,567 shares during the period. American Century Companies Inc. owned 1.57% of Sanmina worth $64,749,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Kendall Capital Management grew its stake in shares of Sanmina by 2.0% during the 4th quarter. Kendall Capital Management now owns 6,205 shares of the electronics maker's stock valued at $470,000 after acquiring an additional 120 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock valued at $166,000 after purchasing an additional 125 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Sanmina by 3.3% in the fourth quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker's stock worth $303,000 after purchasing an additional 129 shares during the period. Principal Securities Inc. increased its stake in shares of Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after purchasing an additional 166 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Sanmina by 3.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker's stock valued at $416,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 92.71% of the company's stock.
Insider Activity at Sanmina
In other news, Director Eugene A. Delaney sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the sale, the director now directly owns 77,120 shares of the company's stock, valued at $6,439,520. This represents a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the company'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 directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,405 shares of company stock valued at $2,821,682. Insiders own 3.22% of the company's stock.
Sanmina Price Performance
Shares of SANM stock traded down $1.09 during mid-day trading on Friday, hitting $76.65. The company had a trading volume of 417,693 shares, compared to its average volume of 385,466. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The stock's 50 day moving average price is $81.99 and its 200-day moving average price is $76.96. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The company has a market capitalization of $4.16 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.29 and a beta of 0.85.
Sanmina announced that its Board of Directors has authorized a stock buyback program on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.
Check Out Our Latest Stock Analysis on SANM
Sanmina Company Profile
(
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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