Rhumbline Advisers boosted its holdings in shares of Sanmina Co. (NASDAQ:SANM – Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 194,231 shares of the electronics maker’s stock after purchasing an additional 6,671 shares during the period. Rhumbline Advisers owned approximately 0.33% of Sanmina worth $11,846,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its stake in shares of Sanmina by 216.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 810,247 shares of the electronics maker’s stock worth $33,002,000 after acquiring an additional 553,822 shares during the period. Morgan Stanley lifted its position in Sanmina by 53.9% in the fourth quarter. Morgan Stanley now owns 1,090,322 shares of the electronics maker’s stock valued at $62,465,000 after purchasing an additional 381,997 shares during the period. American Century Companies Inc. boosted its holdings in Sanmina by 64.8% in the 4th quarter. American Century Companies Inc. now owns 885,964 shares of the electronics maker’s stock valued at $50,757,000 after purchasing an additional 348,516 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Sanmina by 968.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 333,098 shares of the electronics maker’s stock worth $20,289,000 after purchasing an additional 301,913 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Sanmina by 38.6% during the 4th quarter. Millennium Management LLC now owns 1,031,051 shares of the electronics maker’s stock worth $59,069,000 after buying an additional 286,954 shares in the last quarter. 90.26% of the stock is currently owned by institutional investors and hedge funds.
Sanmina Stock Up 0.6 %
SANM stock opened at $56.03 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $57.79 and its 200 day moving average price is $56.90. Sanmina Co. has a 52 week low of $44.29 and a 52 week high of $69.28. The company has a market cap of $3.26 billion, a P/E ratio of 10.84 and a beta of 1.19.
Sanmina announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on Sanmina in a report on Thursday, August 17th. They set a “buy” rating on the stock.
Insider Transactions at Sanmina
In related news, CEO Jure Sola sold 129,762 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $54.20, for a total transaction of $7,033,100.40. Following the sale, the chief executive officer now owns 1,038,144 shares of the company’s stock, valued at $56,267,404.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Sanmina news, CEO Jure Sola sold 129,762 shares of Sanmina stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $54.20, for a total value of $7,033,100.40. Following the completion of the sale, the chief executive officer now directly owns 1,038,144 shares of the company’s stock, valued at approximately $56,267,404.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 5,344 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $55.92, for a total value of $298,836.48. Following the sale, the executive vice president now owns 27,000 shares in the company, valued at approximately $1,509,840. The disclosure for this sale can be found here. Insiders sold a total of 136,472 shares of company stock valued at $7,407,326 in the last ninety days. Corporate insiders own 3.03% of the company’s stock.
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.
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