Sanmina Co. (NASDAQ:SANM) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in Sanmina Co. (NASDAQ:SANM) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,186 shares of the electronics maker’s stock after selling 10,085 shares during the period. Ameriprise Financial Inc.’s holdings in Sanmina were worth $12,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC raised its stake in Sanmina by 296.3% in the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after acquiring an additional 69,431 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Sanmina by 32.4% in the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker’s stock worth $51,092,000 after purchasing an additional 165,285 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Sanmina by 6.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 125 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Sanmina during the fourth quarter worth about $2,644,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Sanmina by 9.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker’s stock valued at $8,018,000 after buying an additional 8,962 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Stock Performance

Shares of SANM stock opened at $84.56 on Monday. Sanmina Co. has a 52-week low of $61.52 and a 52-week high of $91.12. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The stock has a market cap of $4.52 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The business has a 50-day simple moving average of $77.35 and a 200-day simple moving average of $79.48.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the business earned $1.30 earnings per share. Sanmina’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina declared that its Board of Directors has authorized a share repurchase program on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Mario M. Rosati sold 11,391 shares of the 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 directly 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 filing with the SEC, which is available at this hyperlink. Insiders own 3.22% of the company’s stock.

Analyst Upgrades and Downgrades

SANM has been the subject of a number of recent research reports. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.