Comerica Bank Boosts Holdings in Sanmina Co. (NASDAQ:SANM)

Comerica Bank raised its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,257 shares of the electronics maker's stock after buying an additional 21,478 shares during the quarter. Comerica Bank owned approximately 0.15% of Sanmina worth $6,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SANM. Barclays PLC raised its holdings in Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock worth $6,358,000 after purchasing an additional 69,431 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock worth $34,903,000 after purchasing an additional 366,653 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock valued at $166,000 after purchasing an additional 125 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Sanmina by 88.3% in 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 holdings in Sanmina by 32.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,724 shares of the electronics maker's stock worth $357,000 after buying an additional 1,168 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sanmina

In other news, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction dated 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 $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SANM has been the subject of a number of research analyst reports. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and increased their target price for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

Sanmina Price Performance

SANM traded up $0.87 during midday trading on Thursday, reaching $80.54. 387,681 shares of the company's stock were exchanged, compared to its average volume of 391,170. The business's 50-day moving average price is $76.28 and its 200 day moving average price is $78.58. The stock has a market capitalization of $4.31 billion, a PE ratio of 19.69, a P/E/G ratio of 1.29 and a beta of 1.10. Sanmina Co. has a 1-year low of $61.52 and a 1-year high of $91.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating 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 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 company earned $1.30 EPS. Sanmina's revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina declared that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's board 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.