Sanmina Co. (NASDAQ:SANM) Position Lessened by LSV Asset Management

LSV Asset Management cut its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,642,140 shares of the electronics maker's stock after selling 34,600 shares during the quarter. LSV Asset Management owned about 3.02% of Sanmina worth $124,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SANM. Kendall Capital Management raised its position in Sanmina by 2.0% in the fourth quarter. Kendall Capital Management now owns 6,205 shares of the electronics maker's stock worth $470,000 after acquiring an additional 120 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 125 shares during the last quarter. Park Avenue Securities LLC raised its stake in Sanmina by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker's stock valued at $303,000 after purchasing an additional 129 shares in the last quarter. Principal Securities Inc. increased its stake in Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after acquiring an additional 166 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Sanmina by 3.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker's stock worth $416,000 after buying an additional 185 shares during the period. Institutional investors own 92.71% of the company's stock.

Remove Ads

Sanmina Trading Down 1.7 %

Shares of Sanmina stock traded down $1.28 on Wednesday, reaching $75.27. The company had a trading volume of 97,049 shares, compared to its average volume of 392,163. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The firm's 50 day moving average price is $79.24 and its two-hundred day moving average price is $77.48. The firm has a market cap of $4.09 billion, a PE ratio of 18.40, a PEG ratio of 1.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina declared that its board has approved a stock repurchase 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 often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SANM has been the topic of several research reports. StockNews.com downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and upped their price target for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Activity

In other news, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction dated 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 owns 77,120 shares of the company's stock, valued at $6,439,520. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now owns 80,295 shares in the company, valued at $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,405 shares of company stock worth $2,821,682. 3.22% of the stock is currently owned by corporate insiders.

About Sanmina

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.