Sanmina Co. (NASDAQ:SANM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in shares of Sanmina Co. (NASDAQ:SANM) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,472 shares of the electronics maker’s stock after selling 4,374 shares during the period. Rhumbline Advisers owned approximately 0.31% of Sanmina worth $12,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SANM. JPMorgan Chase & Co. increased its holdings in shares of Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after buying an additional 366,653 shares during the last quarter. Weiss Asset Management LP increased its holdings in shares of Sanmina by 590.7% during the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after buying an additional 325,974 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in Sanmina by 19.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after purchasing an additional 149,600 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Sanmina by 88.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock valued at $20,040,000 after purchasing an additional 124,190 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Sanmina by 36.7% in the 3rd quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock valued at $27,524,000 after purchasing an additional 107,906 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Stock Down 3.2 %

Shares of Sanmina stock opened at $85.72 on Friday. The business has a 50-day moving average of $82.08 and a 200-day moving average of $75.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The company has a market capitalization of $4.66 billion, a PE ratio of 20.96, a P/E/G ratio of 1.29 and a beta of 0.92. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12.

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

Insider Activity

In other news, Director Eugene A. Delaney sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 77,120 shares in the company, valued at $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SANM. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and increased their price target for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, November 5th.

Sanmina Profile

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.