Kesler Norman & Wride LLC Acquires 3,307 Shares of Sanmina Co. (NASDAQ:SANM)

Kesler Norman & Wride LLC lifted its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 47.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,288 shares of the electronics maker's stock after purchasing an additional 3,307 shares during the quarter. Kesler Norman & Wride LLC's holdings in Sanmina were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Sanmina by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker's stock valued at $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Barclays PLC increased its holdings in Sanmina by 296.3% in 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 last quarter. JPMorgan Chase & Co. raised its position in Sanmina by 255.9% during the third 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake in Sanmina by 6.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock valued at $166,000 after acquiring an additional 125 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Sanmina by 88.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock worth $20,040,000 after purchasing an additional 124,190 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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Sanmina Stock Performance

Shares of Sanmina stock traded down $1.86 on Friday, reaching $67.30. The stock had a trading volume of 732,342 shares, compared to its average volume of 388,477. 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 business's 50-day moving average price is $80.94 and its two-hundred day moving average price is $77.13. The stock has a market cap of $3.66 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12.

Sanmina announced that its board has initiated a share repurchase plan 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 plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SANM has been the subject of a number of recent research reports. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th.

Insider Transactions at Sanmina

In related news, Director Eugene A. Delaney sold 11,712 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the transaction, the director now owns 65,408 shares of the company's stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,405 shares of company stock worth $2,821,682. Company insiders own 3.22% of the company's stock.

Sanmina Company 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.