Yousif Capital Management LLC Sells 331 Shares of Sanmina Co. (NASDAQ:SANM)

Yousif Capital Management LLC lessened its stake in Sanmina Co. (NASDAQ:SANM) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,261 shares of the electronics maker’s stock after selling 331 shares during the period. Yousif Capital Management LLC’s holdings in Sanmina were worth $1,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SANM. FMR LLC grew its holdings in shares of Sanmina by 5.0% during the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock worth $117,444,000 after purchasing an additional 82,409 shares in the last quarter. Geode Capital Management LLC lifted its position in Sanmina by 2.4% in 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. boosted its stake 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 in 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 buying an additional 149,600 shares during the period. Finally, JPMorgan Chase & Co. raised its stake 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 buying an additional 366,653 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Price Performance

Shares of Sanmina stock opened at $88.96 on Wednesday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.28 and a beta of 0.92. The firm’s 50-day moving average price is $80.40 and its two-hundred day moving average price is $74.18. 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 Co. has a 1-year low of $57.52 and a 1-year high of $90.78.

Sanmina declared that its Board of Directors has initiated a share buyback 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 repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their target price 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 note on Thursday, February 6th. Finally, Craig Hallum raised their target price on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction dated 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 owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.22% of the stock is owned by corporate insiders.

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.