Fmr LLC Increases Holdings in Sanmina Co. (NASDAQ:SANM)

FMR LLC grew its position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,959,025 shares of the electronics maker's stock after acquiring an additional 243,258 shares during the quarter. FMR LLC owned 3.61% of Sanmina worth $148,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SANM. Geode Capital Management LLC grew its stake in Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker's stock valued at $103,727,000 after purchasing an additional 35,622 shares during the period. Barclays PLC boosted its holdings in shares of Sanmina by 296.3% in the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock worth $6,358,000 after buying an additional 69,431 shares during the last quarter. JPMorgan Chase & Co. grew its position in Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock valued at $34,903,000 after buying an additional 366,653 shares during the period. Nisa Investment Advisors LLC raised its position in Sanmina by 6.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock worth $166,000 after acquiring an additional 125 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Sanmina by 88.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock valued at $20,040,000 after acquiring an additional 124,190 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Insider Activity

In other news, 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 completion of the transaction, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 33,405 shares of company stock worth $2,821,682. 3.22% of the stock is owned by corporate insiders.

Sanmina Stock Performance

SANM traded down $0.26 on Friday, hitting $74.92. The company's stock had a trading volume of 357,996 shares, compared to its average volume of 393,971. The company's 50 day simple moving average is $78.74 and its 200-day simple moving average is $77.51. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12. The firm has a market cap of $4.07 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00.

Sanmina announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SANM. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th.

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.