Blue Trust Inc. Sells 1,744 Shares of Sanmina Co. (NASDAQ:SANM)

Blue Trust Inc. lessened its stake in shares of Sanmina Co. (NASDAQ:SANM) by 58.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,265 shares of the electronics maker’s stock after selling 1,744 shares during the period. Blue Trust Inc.’s holdings in Sanmina were worth $96,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC boosted 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 valued at $117,444,000 after purchasing an additional 82,409 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sanmina by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after purchasing an additional 35,622 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Sanmina by 6.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock valued at $89,018,000 after purchasing an additional 79,565 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in shares of Sanmina by 19.4% during 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 during the last quarter. Finally, JPMorgan Chase & Co. boosted 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 valued at $34,903,000 after purchasing an additional 366,653 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.

Sanmina Stock Performance

Sanmina stock opened at $85.72 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 $91.12. The firm has a market capitalization of $4.66 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company’s 50-day moving average is $82.08 and its 200 day moving average is $75.23.

Sanmina announced that its board has authorized a share buyback program on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the sale, the director now directly owns 65,408 shares of the company’s stock, valued at $5,495,580.16. This represents a 15.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SANM shares. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. 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 research report on Wednesday, January 29th. Finally, Craig Hallum upped their target price 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 Company 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.