Legal & General Group Plc Has $12 Million Position in Sanmina Co. (NASDAQ:SANM)

Legal & General Group Plc lowered its holdings in Sanmina Co. (NASDAQ:SANM) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 158,539 shares of the electronics maker’s stock after selling 3,749 shares during the period. Legal & General Group Plc’s holdings in Sanmina were worth $11,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SANM. Wilmington Savings Fund Society FSB bought a new stake in shares of Sanmina in the 3rd quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in Sanmina in the 4th quarter valued at $58,000. GAMMA Investing LLC grew its position in Sanmina by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 352 shares during the period. Principal Securities Inc. raised its stake in 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 acquiring an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Sanmina by 283.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after acquiring an additional 1,056 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the sale, the director now directly owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value 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. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,405 shares of company stock valued at $2,821,682. Insiders own 3.22% of the company’s stock.

Analysts Set New Price Targets

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

Sanmina Stock Performance

Sanmina stock opened at $75.18 on Thursday. The stock has a 50-day simple moving average of $79.02 and a 200 day simple moving average of $77.47. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.29 and a beta of 1.00. 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 Co. has a 12-month low of $57.52 and a 12-month high of $91.12.

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

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.