Sei Investments Co. Has $16.81 Million Stake in Sanmina Co. (NASDAQ:SANM)

Sei Investments Co. cut its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222,114 shares of the electronics maker's stock after selling 6,734 shares during the period. Sei Investments Co. owned approximately 0.41% of Sanmina worth $16,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the 3rd quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in Sanmina in the fourth quarter worth $58,000. GAMMA Investing LLC raised its holdings in Sanmina by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock worth $97,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. increased its position in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after buying an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $108,000 after buying an additional 1,056 shares during the period. Institutional investors own 92.71% of the company's stock.

Analyst Ratings Changes

SANM has been the topic of several research analyst reports. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and raised their target price 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 report on Thursday, February 6th.

Remove Ads

Insider Activity

In related news, Director Eugene A. Delaney sold 10,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 77,120 shares of the company's stock, valued at $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,405 shares of company stock valued at $2,821,682. 3.22% of the stock is owned by company insiders.

Sanmina Stock Performance

Sanmina stock traded down $0.74 during mid-day trading on Monday, hitting $75.91. 126,213 shares of the company's stock traded hands, compared to its average volume of 384,471. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.29 and a beta of 0.85. The firm has a 50 day simple moving average of $81.99 and a two-hundred day simple moving average of $77.05. 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 announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.