US Bancorp DE Sells 674 Shares of Sanmina Co. (NASDAQ:SANM)

US Bancorp DE cut its position in Sanmina Co. (NASDAQ:SANM) by 42.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 900 shares of the electronics maker’s stock after selling 674 shares during the quarter. US Bancorp DE’s holdings in Sanmina were worth $68,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position 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 acquiring an additional 82,409 shares during the period. Geode Capital Management LLC grew its holdings in Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares during the period. Franklin Resources Inc. increased its position in Sanmina by 6.4% during the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after buying an additional 79,565 shares during the last quarter. Global Alpha Capital Management Ltd. raised its stake in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after buying an additional 149,600 shares during the period. Finally, Allianz Asset Management GmbH lifted its position 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 valued at $50,239,000 after buying an additional 80,574 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SANM shares. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,103 shares of company stock valued at $2,798,896. 3.22% of the stock is currently owned by corporate insiders.

Sanmina Price Performance

Sanmina stock opened at $76.12 on Tuesday. The stock’s 50 day moving average is $82.30 and its 200-day moving average is $76.28. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12.

Sanmina announced that its board has authorized a share repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board 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.