US Bancorp DE Has $68,000 Position in Sanmina Co. (NASDAQ:SANM)

US Bancorp DE lessened its holdings in Sanmina Co. (NASDAQ:SANM) by 42.8% during the fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new position in Sanmina during the third quarter worth about $32,000. R Squared Ltd bought a new stake in shares of Sanmina during the fourth quarter worth $58,000. GAMMA Investing LLC grew its stake in shares of Sanmina by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after buying an additional 352 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after buying an additional 166 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SANM shares. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

Sanmina Stock Up 0.6 %

Shares of NASDAQ:SANM opened at $76.12 on Tuesday. The firm has a market cap of $4.14 billion, a P/E ratio of 18.61, a P/E/G 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 business has a fifty day simple moving average of $82.30 and a 200 day simple moving average of $76.28. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12.

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

Insider Transactions at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction 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 sale, the director now owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value 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 disclosure for this sale can be found here. Insiders sold 33,103 shares of company stock worth $2,798,896 over the last ninety days. 3.22% of the stock is owned by insiders.

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.