First Eagle Investment Management LLC cut its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,972 shares of the electronics maker's stock after selling 12,800 shares during the period. First Eagle Investment Management LLC owned about 0.37% of Sanmina worth $15,208,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Sanmina by 5.0% in the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker's stock worth $117,444,000 after purchasing an additional 82,409 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $103,727,000 after acquiring an additional 35,622 shares during the period. Franklin Resources Inc. lifted its stake in Sanmina by 6.4% in the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker's stock worth $89,018,000 after acquiring an additional 79,565 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker's stock worth $63,138,000 after acquiring an additional 149,600 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Sanmina by 13.8% in the fourth quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker's stock worth $50,239,000 after acquiring an additional 80,574 shares during the period. 92.71% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Sanmina
In related news, Director Mario M. Rosati sold 11,391 shares of the 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 transaction, the director now directly owns 80,295 shares of the company's stock, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 77,120 shares of the company's stock, valued at $6,439,520. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,103 shares of company stock valued at $2,798,896. 3.22% of the stock is currently owned by insiders.
Sanmina Stock Up 0.1 %
Shares of SANM stock traded up $0.07 during mid-day trading on Tuesday, hitting $76.19. 274,562 shares of the stock traded hands, compared to its average volume of 369,359. The stock has a market cap of $4.14 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.29 and a beta of 0.85. The stock's fifty day moving average is $82.30 and its two-hundred day moving average is $76.28. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30.
Sanmina declared that its Board of Directors has authorized a stock buyback program on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
SANM has been the subject of a number of research reports. StockNews.com lowered shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Bank of America raised 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 research note on Wednesday, January 29th.
Read Our Latest Stock Analysis on SANM
About Sanmina
(
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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