Nicola Wealth Management LTD. Cuts Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Nicola Wealth Management LTD. lowered its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,100 shares of the electronics maker's stock after selling 6,000 shares during the period. Nicola Wealth Management LTD. owned 0.10% of Sanmina worth $4,169,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in Sanmina by 6.0% in the 4th 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 in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Sanmina by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker's stock worth $303,000 after buying an additional 129 shares during the last quarter. Principal Securities Inc. grew its holdings 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 valued at $105,000 after acquiring an additional 166 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings 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 acquiring an additional 185 shares during the period. Finally, TFG Advisers LLC boosted its position in Sanmina by 4.8% in the fourth quarter. TFG Advisers LLC now owns 4,381 shares of the electronics maker's stock worth $332,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

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Insider Activity

In related news, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction 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 sale, the director now owns 80,295 shares of the company's stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 11,712 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the transaction, the director now owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,103 shares of company stock worth $2,798,896 over the last ninety days. Company insiders own 3.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SANM shares. StockNews.com lowered shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Sanmina Stock Performance

Shares of NASDAQ SANM traded up $0.62 during mid-day trading on Friday, hitting $76.28. The company had a trading volume of 331,012 shares, compared to its average volume of 374,237. The stock's 50-day moving average price is $82.45 and its 200-day moving average price is $75.93. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12.

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

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.