Nuveen Asset Management LLC Sells 31,601 Shares of Sanmina Co. (NASDAQ:SANM)

Nuveen Asset Management LLC lowered its holdings in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 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 about 1.22% of Sanmina worth $50,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SANM. R Squared Ltd purchased a new stake in shares of Sanmina in the fourth quarter worth approximately $58,000. Principal Securities Inc. raised its position in Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after acquiring an additional 166 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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. Sterling Capital Management LLC increased its position in Sanmina by 843.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock worth $131,000 after acquiring an additional 1,543 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake 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. Institutional investors and hedge funds own 92.71% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on SANM. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Sanmina Price Performance

NASDAQ:SANM traded down $0.25 during mid-day trading on Friday, reaching $84.20. The stock had a trading volume of 412,782 shares, compared to its average volume of 397,739. The firm has a 50 day moving average price of $78.11 and a two-hundred day moving average price of $79.68. The stock has a market capitalization of $4.50 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.29 and a beta of 1.10. Sanmina Co. has a one year low of $61.52 and a one year high of $91.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina (NASDAQ:SANM - Get Free Report) last released 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. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 EPS. As a group, analysts expect that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina announced that its Board of Directors has approved a stock buyback plan on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board 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.