Sanmina Co. (NASDAQ:SANM) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lowered its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 780,728 shares of the electronics maker's stock after selling 182,729 shares during the period. D. E. Shaw & Co. Inc. owned 1.44% of Sanmina worth $59,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Sanmina during the third quarter worth $32,000. R Squared Ltd purchased a new stake in Sanmina in the fourth quarter valued at $58,000. GAMMA Investing LLC raised its position in Sanmina by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock valued at $97,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. raised its position in Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Sanmina by 283.9% in the fourth 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 during the period. Institutional investors and hedge funds own 92.71% of the company's stock.

Insider Activity at Sanmina

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

Analysts Set New Price Targets

A number of research firms have commented on SANM. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th.

Sanmina Trading Up 4.4%

Shares of SANM stock traded up $3.51 on Monday, hitting $83.46. The stock had a trading volume of 377,516 shares, compared to its average volume of 391,720. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The firm has a market capitalization of $4.46 billion, a P/E ratio of 20.41, 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's 50 day moving average price is $76.59 and its 200-day moving average price is $79.07.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.03. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. Analysts anticipate that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina declared that its board has approved a stock buyback program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors 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.