Sanmina Co. (NASDAQ:SANM) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 267,725 shares of the electronics maker's stock after purchasing an additional 4,144 shares during the period. Wells Fargo & Company MN owned 0.49% of Sanmina worth $20,259,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Sanmina by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker's stock worth $103,727,000 after purchasing an additional 35,622 shares during the last quarter. 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 buying an additional 69,431 shares in the last quarter. JPMorgan Chase & Co. grew 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 worth $34,903,000 after buying an additional 366,653 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Sanmina by 6.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock worth $166,000 after acquiring an additional 125 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Sanmina by 88.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock valued at $20,040,000 after acquiring an additional 124,190 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the sale, the director now owns 77,120 shares in the company, valued at $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mario M. Rosati sold 11,391 shares of the firm's stock in a transaction dated 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 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. Insiders sold a total of 33,405 shares of company stock valued at $2,821,682 in the last three months. 3.22% of the stock is currently owned by company insiders.

Sanmina Price Performance

Shares of SANM stock traded down $0.26 during mid-day trading on Friday, hitting $74.92. 357,996 shares of the stock were exchanged, compared to its average volume of 393,971. The company has a market cap of $4.07 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00. The firm has a fifty day moving average of $78.74 and a 200 day moving average of $77.51. 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.

Sanmina announced that its Board of Directors has initiated a share repurchase program on Monday, January 27th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $58.00 to $92.00 in a report 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.

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.