Sanmina Co. (NASDAQ:SANM) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of Sanmina Co. (NASDAQ:SANM) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,725 shares of the electronics maker’s stock after acquiring an additional 4,144 shares during the period. Wells Fargo & Company MN owned approximately 0.49% of Sanmina worth $20,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SANM. Wilmington Savings Fund Society FSB acquired a new stake in Sanmina in the 3rd quarter valued at approximately $32,000. R Squared Ltd purchased a new position in shares of Sanmina during the fourth quarter worth $58,000. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 352 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after buying an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after acquiring an additional 1,056 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SANM. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Trading Up 1.8 %

NASDAQ:SANM opened at $75.95 on Friday. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The firm has a market cap of $4.13 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $79.70 and a 200 day moving average price of $77.38.

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

Insider Buying and Selling at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the transaction, the director now owns 65,408 shares of the company’s stock, valued at $5,495,580.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,405 shares of company stock valued at $2,821,682 in the last quarter. Corporate insiders own 3.22% of the company’s stock.

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.