Federated Hermes Inc. Cuts Stock Position in Sanmina Co. (NASDAQ:SANM)

Federated Hermes Inc. lessened its position in Sanmina Co. (NASDAQ:SANM) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 973 shares of the electronics maker’s stock after selling 170 shares during the quarter. Federated Hermes Inc.’s holdings in Sanmina were worth $74,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Sanmina by 296.3% in the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock valued at $6,358,000 after purchasing an additional 69,431 shares during the period. Virtu Financial LLC acquired a new position in Sanmina during the 3rd quarter worth approximately $311,000. World Investment Advisors LLC purchased a new stake in shares of Sanmina in the 3rd quarter valued at approximately $1,457,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the 3rd quarter valued at $32,000. Finally, Tidal Investments LLC purchased a new stake in shares of Sanmina during the 3rd quarter worth $266,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Performance

Shares of SANM stock opened at $74.92 on Friday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.29 and a beta of 1.00. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12. The stock’s 50-day moving average is $78.45 and its two-hundred day moving average is $77.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina declared that its Board of Directors has initiated a share repurchase program on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Sanmina

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction on Thursday, January 30th. The shares were 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. The trade was a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction dated 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 trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,405 shares of company stock worth $2,821,682. Insiders own 3.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and raised their price target for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th.

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.