Sanmina Co. (NASDAQ:SANM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 975,703 shares of the electronics maker's stock after selling 44,527 shares during the quarter. Bank of America Corp DE owned about 1.80% of Sanmina worth $73,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SANM. Norges Bank bought a new position in Sanmina during the fourth quarter valued at $48,823,000. Franklin Resources Inc. lifted its holdings in shares of Sanmina by 39.6% in the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock valued at $139,407,000 after acquiring an additional 522,534 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Sanmina in the 4th quarter valued at about $34,868,000. FMR LLC grew its position in Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock worth $148,239,000 after acquiring an additional 243,258 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Sanmina by 32.4% during the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock worth $51,092,000 after acquiring an additional 165,285 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 80,295 shares of the company's stock, 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 at the SEC website. 3.22% of the stock is owned by company insiders.

Sanmina Trading Up 0.5%

Shares of NASDAQ:SANM traded up $0.44 during trading hours on Friday, hitting $84.56. 218,462 shares of the company's stock traded hands, compared to its average volume of 390,719. The firm has a market capitalization of $4.52 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The business has a fifty day moving average price of $77.15 and a 200-day moving average price of $79.26. 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 released its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. The business had revenue of $1.98 billion during 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 business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. Equities analysts expect that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina announced that its Board of Directors has authorized a share repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

About Sanmina

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.