Prudential Financial Inc. grew its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,033 shares of the electronics maker's stock after purchasing an additional 31,900 shares during the quarter. Prudential Financial Inc. owned approximately 0.26% of Sanmina worth $10,823,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Citigroup Inc. boosted its position in shares of Sanmina by 64.6% in the 3rd quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker's stock worth $5,061,000 after purchasing an additional 29,028 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $103,727,000 after buying 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 valued at $6,358,000 after acquiring an additional 69,431 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Sanmina by 255.9% in the third 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. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Sanmina by 6.0% during 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. Hedge funds and other institutional investors own 92.71% of the company's stock.
Sanmina Price Performance
Shares of Sanmina stock traded down $0.47 during trading hours on Monday, reaching $76.18. The stock had a trading volume of 423,314 shares, compared to its average volume of 385,617. The stock's 50 day moving average is $81.99 and its 200 day moving average is $77.05. 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 twelve month low of $57.52 and a twelve month high of $91.12. The firm has a market capitalization of $4.14 billion, a PE ratio of 18.63, a PEG ratio of 1.29 and a beta of 0.85.
Sanmina declared that its Board of Directors has authorized a stock repurchase program on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
Several research firms have commented on SANM. Bank of America raised 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 report on Wednesday, January 29th. StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.
Get Our Latest Report on Sanmina
Insider Activity
In related news, Director Eugene A. Delaney sold 10,000 shares of the company's stock in a transaction dated 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 approximately $6,439,520. This represents a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the sale, the director now owns 80,295 shares of the company's stock, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,405 shares of company stock worth $2,821,682 in the last quarter. Corporate insiders own 3.22% of the company's stock.
About Sanmina
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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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