Swiss National Bank Sells 800 Shares of Sanmina Co. (NASDAQ:SANM)

Swiss National Bank trimmed its position in shares of Sanmina Co. (NASDAQ:SANM) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 107,500 shares of the electronics maker’s stock after selling 800 shares during the quarter. Swiss National Bank’s holdings in Sanmina were worth $8,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SANM. FMR LLC lifted its stake in Sanmina by 5.0% in the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock valued at $117,444,000 after buying an additional 82,409 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after buying an additional 35,622 shares in the last quarter. Franklin Resources Inc. boosted its position in Sanmina by 6.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after acquiring an additional 79,565 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Sanmina by 13.8% during 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sanmina by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 610,067 shares of the electronics maker’s stock valued at $46,164,000 after purchasing an additional 3,330 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Price Performance

Sanmina stock opened at $78.31 on Friday. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.29 and a beta of 0.85. The stock’s 50 day moving average is $82.34 and its 200-day moving average is $76.42. 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 12 month low of $57.52 and a 12 month high of $91.12.

Sanmina announced that its Board of Directors has initiated a share repurchase program on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Mario M. Rosati sold 11,391 shares of the 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 sale, the director now 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 filing with the SEC, which is available through the SEC website. Also, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction on Tuesday, February 4th. The shares were 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 directly owns 65,408 shares of the company’s stock, valued at $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. Insiders have sold 33,405 shares of company stock worth $2,821,682 in the last 90 days. Company insiders own 3.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SANM. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

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.