Sanmina Co. (NASDAQ:SANM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in Sanmina Co. (NASDAQ:SANM) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 975,703 shares of the electronics maker’s stock after selling 44,527 shares during the period. Bank of America Corp DE owned 1.80% of Sanmina worth $73,831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Sanmina by 296.3% during 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 last quarter. JPMorgan Chase & Co. raised its stake in shares of Sanmina by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker’s stock valued at $51,092,000 after acquiring an additional 165,285 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after buying an additional 125 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Sanmina by 88.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock valued at $20,040,000 after purchasing an additional 124,190 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Sanmina by 32.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,724 shares of the electronics maker’s stock valued at $357,000 after buying an additional 1,168 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Insider Activity

In related news, Director Mario M. Rosati sold 11,391 shares of the firm’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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Sanmina Stock Performance

SANM opened at $83.46 on Tuesday. Sanmina Co. has a 12-month low of $61.52 and a 12-month high of $91.12. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.29 and a beta of 1.10. The business has a 50 day moving average of $76.59 and a 200-day moving average of $79.07. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina announced that its board has approved a share repurchase plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Sanmina 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.