Sanmina Co. (NASDAQ:SANM) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 58.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,281 shares of the electronics maker’s stock after selling 64,500 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Sanmina were worth $3,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina during the third quarter worth approximately $32,000. R Squared Ltd bought a new position in Sanmina during the 4th quarter valued at $58,000. GAMMA Investing LLC grew its holdings in Sanmina by 37.8% during the 4th 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. increased its position in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of 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 in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the completion of the transaction, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.22% of the company’s stock.

Sanmina Stock Down 1.7 %

Shares of NASDAQ:SANM opened at $78.86 on Tuesday. The company’s fifty day moving average is $76.38 and its two-hundred day moving average is $78.57. 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 Co. has a 1-year low of $61.52 and a 1-year high of $91.12. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Sanmina’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina announced that its board has authorized a share buyback program on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.