Sanmina Co. (NASDAQ:SANM) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its holdings in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,893 shares of the electronics maker's stock after buying an additional 12,795 shares during the period. Royce & Associates LP owned approximately 0.76% of Sanmina worth $31,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Citigroup Inc. raised 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 valued at $5,061,000 after purchasing an additional 29,028 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sanmina by 2.4% in the third 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 last quarter. Barclays PLC lifted its stake in shares of Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock worth $6,358,000 after buying an additional 69,431 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sanmina during the third quarter valued at $2,224,000. Finally, JPMorgan Chase & Co. increased its position in shares of Sanmina by 255.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock valued at $34,903,000 after acquiring an additional 366,653 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Sanmina Stock Performance

NASDAQ SANM traded up $0.07 on Thursday, reaching $78.32. 240,603 shares of the company's stock traded hands, compared to its average volume of 367,293. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. 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 has a market cap of $4.25 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.29 and a beta of 0.85. The stock has a 50 day moving average price of $82.30 and a 200-day moving average price of $76.34.

Sanmina declared that its Board of Directors has initiated a share repurchase program on Monday, January 27th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Transactions at Sanmina

In related 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 sale, the director now directly owns 77,120 shares of the company's stock, valued at approximately $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 transaction, the director now directly owns 80,295 shares of the company's stock, valued at $6,906,975.90. The trade was 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 worth $2,821,682 over the last quarter. 3.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.