Sanmina Co. (NASDAQ:SANM) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its stake in Sanmina Co. (NASDAQ:SANM) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 855,680 shares of the electronics maker’s stock after selling 6,567 shares during the quarter. American Century Companies Inc.’s holdings in Sanmina were worth $64,749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Sanmina in the 3rd quarter worth about $32,000. R Squared Ltd purchased a new position in shares of Sanmina in the fourth quarter valued at approximately $58,000. GAMMA Investing LLC boosted 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 worth $97,000 after acquiring an additional 352 shares during the last quarter. Principal Securities Inc. increased its position in shares of 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 purchasing an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after purchasing an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Down 2.7 %

Shares of NASDAQ:SANM opened at $78.58 on Wednesday. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The stock has a market cap of $4.27 billion, a P/E ratio of 19.21, a PEG ratio of 1.29 and a beta of 0.85. The business has a fifty day moving average of $82.30 and a two-hundred day moving average of $76.76. 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 announced that its Board of Directors has authorized a share repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 77,120 shares in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mario M. Rosati sold 11,391 shares of the firm’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 directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,405 shares of company stock valued at $2,821,682. 3.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.