Global Alpha Capital Management Ltd. Reduces Holdings in Sanmina Co. (NASDAQ:SANM)

Global Alpha Capital Management Ltd. reduced its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 751,191 shares of the electronics maker's stock after selling 171,200 shares during the quarter. Sanmina makes up about 4.1% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 4th largest holding. Global Alpha Capital Management Ltd. owned about 1.38% of Sanmina worth $56,843,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Citigroup Inc. raised its holdings in Sanmina by 64.6% during 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 during the last quarter. Geode Capital Management LLC raised its stake in Sanmina by 2.4% during 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 holdings in Sanmina by 296.3% in the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock valued at $6,358,000 after buying an additional 69,431 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Sanmina during the third quarter valued at $2,224,000. Finally, JPMorgan Chase & Co. grew its holdings in Sanmina by 255.9% during the 3rd 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. Institutional investors own 92.71% of the company's stock.

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Insider Activity at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 completion of the transaction, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the sale, the director now directly owns 77,120 shares of the company's stock, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,103 shares of company stock valued at $2,798,896. 3.22% of the stock is owned by company insiders.

Sanmina Stock Down 0.1 %

NASDAQ:SANM traded down $0.11 on Wednesday, hitting $74.79. The stock had a trading volume of 272,933 shares, compared to its average volume of 428,096. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12. The business's fifty day moving average is $82.39 and its 200 day moving average is $76.12. The company has a market cap of $4.06 billion, a PE ratio of 18.29, a P/E/G ratio of 1.29 and a beta of 0.85.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SANM. Bank of America raised 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 shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th.

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.