Sanmina Co. (NASDAQ:SANM) Shares Sold by Choreo LLC

Choreo LLC cut its position in shares of Sanmina Co. (NASDAQ:SANM) by 27.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,208 shares of the electronics maker’s stock after selling 1,236 shares during the quarter. Choreo LLC’s holdings in Sanmina were worth $243,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Sanmina during the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new stake in Sanmina during the fourth quarter worth approximately $58,000. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 352 shares in the last quarter. CWM LLC raised its stake in shares of Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after acquiring an additional 513 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after acquiring an additional 368 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SANM. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Craig Hallum increased their price objective on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th.

Sanmina Stock Up 0.3 %

Shares of Sanmina stock opened at $89.65 on Friday. 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 Co. has a 1-year low of $57.52 and a 1-year high of $90.78. The business has a 50-day moving average of $80.97 and a 200-day moving average of $74.49. The company has a market capitalization of $4.87 billion, a PE ratio of 21.92, a P/E/G ratio of 1.28 and a beta of 0.92.

Sanmina declared that its board has approved a share buyback 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 purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Sanmina

In other news, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was 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 in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.22% of the stock is owned by insiders.

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.