Russell Investments Group Ltd. Sells 1,698 Shares of Sanmina Co. (NASDAQ:SANM)

Russell Investments Group Ltd. lowered its position in Sanmina Co. (NASDAQ:SANM) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,802 shares of the electronics maker’s stock after selling 1,698 shares during the period. Russell Investments Group Ltd.’s holdings in Sanmina were worth $1,650,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sanmina during the third quarter worth about $32,000. R Squared Ltd purchased a new position in shares of Sanmina in the fourth quarter worth $58,000. GAMMA Investing LLC boosted its position in shares of Sanmina by 37.8% during 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. grew its stake in Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after acquiring an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SANM. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Insider Activity

In other Sanmina 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 transaction, the director now directly owns 65,408 shares of the company’s stock, valued at $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the 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 in the company, valued at approximately $6,906,975.90. This represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock valued at $2,821,682 in the last ninety days. Insiders own 3.22% of the company’s stock.

Sanmina Stock Down 0.3 %

Shares of NASDAQ SANM opened at $74.92 on Friday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.29 and a beta of 1.00. 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. The firm’s 50-day moving average price is $78.45 and its 200-day moving average price is $77.64.

Sanmina declared that its Board of Directors has initiated a stock buyback plan on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.