Sanmina Co. (NASDAQ:SANM) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,888 shares of the electronics maker's stock after selling 11,162 shares during the quarter. Alliancebernstein L.P. owned approximately 0.23% of Sanmina worth $9,375,000 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 SANM. Geode Capital Management LLC boosted its holdings in shares of Sanmina by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker's stock worth $103,727,000 after purchasing an additional 35,622 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Sanmina by 6.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker's stock worth $89,018,000 after acquiring an additional 79,565 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Sanmina by 32.4% during 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 during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Sanmina by 13.8% in the fourth quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker's stock valued at $50,239,000 after purchasing an additional 80,574 shares during the period. Finally, Norges Bank acquired a new stake in Sanmina during the fourth quarter worth about $48,823,000. Hedge funds and other institutional investors own 92.71% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SANM. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and increased their price target for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com cut shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th.

Insider Buying and Selling

In other news, Director Mario M. Rosati sold 11,391 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the sale, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the transaction, the director now owns 77,120 shares of the company's stock, valued at approximately $6,439,520. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,405 shares of company stock valued at $2,821,682 in the last ninety days. Company insiders own 3.22% of the company's stock.

Sanmina Trading Down 1.5 %

Sanmina stock traded down $1.13 during midday trading on Wednesday, reaching $75.43. 58,378 shares of the stock traded hands, compared to its average volume of 392,014. The firm has a market cap of $4.10 billion, a PE ratio of 18.44, a price-to-earnings-growth 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 company has a 50-day simple moving average of $79.24 and a two-hundred day simple moving average of $77.48.

Sanmina declared that its Board of Directors has initiated a share buyback plan on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is 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.