Vanguard Group Inc. Sells 91,817 Shares of Sanmina Co. (NASDAQ:SANM)

Vanguard Group Inc. reduced its stake in Sanmina Co. (NASDAQ:SANM) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,417,362 shares of the electronics maker’s stock after selling 91,817 shares during the quarter. Vanguard Group Inc. owned about 13.65% of Sanmina worth $561,272,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SANM. JPMorgan Chase & Co. boosted 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 purchasing an additional 366,653 shares during the last quarter. Weiss Asset Management LP boosted its position in Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after acquiring an additional 325,974 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Sanmina by 88.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock worth $20,040,000 after acquiring an additional 124,190 shares during the period. FMR LLC grew its holdings in 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 acquiring an additional 82,409 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Sanmina by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock worth $50,239,000 after acquiring an additional 80,574 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now directly owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the transaction, the director now owns 65,408 shares in the company, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,405 shares of company stock valued at $2,821,682. 3.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SANM has been the subject of several recent analyst reports. Bank of America raised 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 research note 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 Price Performance

SANM stock opened at $76.18 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The company’s 50-day moving average is $81.85 and its 200-day moving average is $77.12. The stock has a market capitalization of $4.14 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12.

Sanmina declared that its board has authorized a share buyback plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.