Sanmina Co. (NASDAQ:SANM) Position Lessened by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 663,246 shares of the electronics maker's stock after selling 31,601 shares during the period. Nuveen Asset Management LLC owned 1.22% of Sanmina worth $50,188,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SANM. Barclays PLC increased its position in shares of Sanmina by 296.3% during the 3rd 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 period. Park Avenue Securities LLC increased its position in shares of Sanmina by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker's stock valued at $303,000 after purchasing an additional 129 shares during the period. Atomi Financial Group Inc. increased its position in shares of Sanmina by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 5,028 shares of the electronics maker's stock valued at $380,000 after purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Sanmina by 6.0% during 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 during the period. Finally, SG Americas Securities LLC increased its position in shares of Sanmina by 36.8% during the 4th quarter. SG Americas Securities LLC now owns 5,800 shares of the electronics maker's stock valued at $439,000 after purchasing an additional 1,559 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.22% of the company's stock.

Sanmina Stock Performance

Shares of NASDAQ SANM opened at $81.37 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.29 and a beta of 1.10. The stock's fifty day simple moving average is $77.48 and its 200 day simple moving average is $79.55. Sanmina Co. has a 52-week low of $61.52 and a 52-week high of $91.12.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.03. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. As a group, sell-side analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SANM shares. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $58.00 to $92.00 in a research report 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 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.

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