Sanmina Co. (NASDAQ:SANM) Position Lowered by Rhumbline Advisers

Rhumbline Advisers decreased its stake in shares of Sanmina Co. (NASDAQ:SANM) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 168,472 shares of the electronics maker’s stock after selling 4,374 shares during the period. Rhumbline Advisers’ holdings in Sanmina were worth $12,748,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in Sanmina in the third quarter worth about $32,000. R Squared Ltd bought a new position in Sanmina in the fourth quarter worth about $58,000. GAMMA Investing LLC lifted its holdings in 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 during the last quarter. CWM LLC lifted its holdings in Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after acquiring an additional 513 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Sanmina by 25.5% in the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after acquiring an additional 368 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.

Insider Activity

In other news, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.22% of the company’s stock.

Sanmina Stock Performance

SANM opened at $85.72 on Friday. The business’s 50 day moving average is $82.08 and its 200-day moving average is $75.23. The stock has a market cap of $4.66 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. 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 twelve month low of $57.52 and a twelve month high of $91.12.

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 buy up to 7.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SANM shares. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. Craig Hallum raised their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th.

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.