Phocas Financial Corp. Sells 66,291 Shares of Sanmina Co. (NASDAQ:SANM)

Phocas Financial Corp. cut its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,722 shares of the electronics maker's stock after selling 66,291 shares during the quarter. Phocas Financial Corp.'s holdings in Sanmina were worth $887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SANM. Creative Planning boosted its position in shares of Sanmina by 13.2% in the 3rd quarter. Creative Planning now owns 23,836 shares of the electronics maker's stock worth $1,632,000 after purchasing an additional 2,772 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Sanmina by 1.4% in the third quarter. New York State Common Retirement Fund now owns 357,105 shares of the electronics maker's stock valued at $24,444,000 after buying an additional 4,943 shares during the period. Farther Finance Advisors LLC boosted its holdings in Sanmina by 16.3% during the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker's stock worth $146,000 after buying an additional 299 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Sanmina by 9.7% during the 3rd quarter. QRG Capital Management Inc. now owns 5,888 shares of the electronics maker's stock worth $403,000 after buying an additional 523 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Sanmina by 10.2% in the 3rd quarter. Assetmark Inc. now owns 82,442 shares of the electronics maker's stock valued at $5,643,000 after acquiring an additional 7,610 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

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Insiders Place Their Bets

In other news, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the sale, the director now owns 77,120 shares of the company's stock, valued at $6,439,520. This represents 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 available at this hyperlink. Also, 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 sale, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This represents 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 33,103 shares of company stock worth $2,798,896. Company insiders own 3.22% of the company's stock.

Analyst Upgrades and Downgrades

SANM has been the topic of several recent analyst reports. 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 increased their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, Craig Hallum boosted their price target on shares of Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a report on Tuesday, November 5th.

Sanmina Stock Up 0.0 %

Shares of NASDAQ:SANM traded up $0.03 during trading on Friday, hitting $81.92. 559,336 shares of the company's stock traded hands, compared to its average volume of 429,983. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $82.58 and a 200-day moving average price of $75.75. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Sanmina declared that its board has initiated a share buyback program on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are 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.