Franklin Resources Inc. grew its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,842,302 shares of the electronics maker's stock after purchasing an additional 522,534 shares during the quarter. Franklin Resources Inc. owned about 3.39% of Sanmina worth $139,407,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Sanmina in the 4th quarter valued at about $48,823,000. JPMorgan Chase & Co. increased its stake in Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock worth $34,903,000 after acquiring an additional 366,653 shares during the period. Weiss Asset Management LP raised its holdings in Sanmina by 590.7% in the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker's stock valued at $26,090,000 after acquiring an additional 325,974 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Sanmina by 88.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock worth $20,040,000 after purchasing an additional 124,190 shares during the period. Finally, FMR LLC lifted its position in Sanmina by 5.0% during the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker's stock worth $117,444,000 after purchasing an additional 82,409 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.
Sanmina Price Performance
Shares of Sanmina stock traded down $1.86 during midday trading on Friday, hitting $67.30. 732,342 shares of the company traded hands, compared to its average volume of 388,477. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The firm's fifty day moving average price is $81.28 and its 200-day moving average price is $77.13. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12.
Sanmina declared that its board has authorized a share repurchase program on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.
Insiders Place Their Bets
In other news, Director Eugene A. Delaney sold 11,712 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the transaction, the director now directly owns 65,408 shares in the company, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was 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 owns 80,295 shares in the company, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,405 shares of company stock valued at $2,821,682 in the last ninety days. 3.22% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research firms have commented on SANM. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and raised their target price for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th.
View Our Latest Research Report on SANM
Sanmina 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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