Sanmina Co. (NASDAQ:SANM) Stock Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,978 shares of the electronics maker's stock after selling 29,016 shares during the period. Victory Capital Management Inc. owned about 0.70% of Sanmina worth $28,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Sanmina by 16.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker's stock worth $146,000 after purchasing an additional 299 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Sanmina by 9.7% in the third quarter. QRG Capital Management Inc. now owns 5,888 shares of the electronics maker's stock worth $403,000 after acquiring an additional 523 shares during the last quarter. Assetmark Inc. lifted its position in shares of Sanmina by 10.2% in the third quarter. Assetmark Inc. now owns 82,442 shares of the electronics maker's stock valued at $5,643,000 after acquiring an additional 7,610 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Sanmina by 6.6% during the third quarter. Atria Investments Inc now owns 19,757 shares of the electronics maker's stock valued at $1,352,000 after acquiring an additional 1,226 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Sanmina by 2.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,598 shares of the electronics maker's stock worth $1,958,000 after purchasing an additional 777 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

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Insiders Place Their Bets

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction that occurred 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 in the company, valued at $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the firm'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 completion of the transaction, the director now directly owns 65,408 shares in the company, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,103 shares of company stock worth $2,798,896 over the last three months. 3.22% of the stock is owned by insiders.

Sanmina Trading Up 3.1 %

Shares of SANM traded up $2.25 during mid-day trading on Friday, hitting $75.63. The company had a trading volume of 275,145 shares, compared to its average volume of 375,588. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12. 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 business's 50-day simple moving average is $82.33 and its 200-day simple moving average is $76.09. The stock has a market cap of $4.11 billion, a PE ratio of 18.49, a P/E/G ratio of 1.29 and a beta of 0.85.

Sanmina declared that its board has approved a stock repurchase plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SANM shares. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and upped their target price for the company 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 report on Thursday, February 6th.

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.