Sanmina Co. (NASDAQ:SANM) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lessened its stake in Sanmina Co. (NASDAQ:SANM) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 55,100 shares of the electronics maker’s stock after selling 6,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Sanmina were worth $4,169,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Sanmina in the third quarter worth $32,000. R Squared Ltd acquired a new position in shares of Sanmina in 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 worth $97,000 after acquiring an additional 352 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Sanmina by 13.6% in 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 grew its stake in shares of Sanmina by 283.9% in the fourth 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. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Price Performance

Sanmina stock opened at $76.39 on Tuesday. The stock has a market cap of $4.15 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a fifty day simple moving average of $82.57 and a 200-day simple moving average of $75.89. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. 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 declared that its board has approved a share repurchase 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 repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Craig Hallum boosted their price target on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. Finally, StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

Insider Transactions at Sanmina

In other news, 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 transaction of $984,042.24. Following the completion of the sale, the director now directly owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the business’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,103 shares of company stock valued at $2,798,896. 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.