Vanguard Group Inc. trimmed its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,417,362 shares of the electronics maker's stock after selling 91,817 shares during the quarter. Vanguard Group Inc. owned about 13.65% of Sanmina worth $561,272,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings 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 valued at $34,903,000 after acquiring an additional 366,653 shares during the last quarter. Weiss Asset Management LP boosted its holdings in Sanmina by 590.7% in the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker's stock valued at $26,090,000 after purchasing an additional 325,974 shares during the last quarter. Assenagon Asset Management S.A. grew its position in 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 period. FMR LLC lifted its holdings in shares of Sanmina by 5.0% in the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker's stock valued at $117,444,000 after buying an additional 82,409 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of 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 buying an additional 80,574 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.
Sanmina Price Performance
Shares of Sanmina stock traded down $8.35 on Thursday, reaching $69.16. The company's stock had a trading volume of 495,744 shares, compared to its average volume of 386,574. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.76 billion, a P/E ratio of 16.91, a PEG ratio of 1.29 and a beta of 0.85. The stock has a 50-day moving average price of $81.57 and a 200-day moving average price of $77.19. 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 buyback program on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Activity at Sanmina
In related news, Director Eugene A. Delaney sold 11,712 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the transaction, the director now directly owns 65,408 shares of the company's stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the business'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 value of $979,853.82. Following the sale, the director now 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. In the last quarter, insiders have sold 33,405 shares of company stock valued at $2,821,682. 3.22% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. 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 report on Wednesday, January 29th. StockNews.com cut shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.
Read Our Latest Report on SANM
Sanmina Company Profile
(
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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