Tower Research Capital LLC TRC Cuts Holdings in Sanmina Co. (NASDAQ:SANM)

Tower Research Capital LLC TRC lessened its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 78.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,248 shares of the electronics maker's stock after selling 4,621 shares during the period. Tower Research Capital LLC TRC's holdings in Sanmina were worth $94,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC raised its position in 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 last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sanmina by 32.4% during the 4th 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 period. Nisa Investment Advisors LLC grew 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 worth $166,000 after buying an additional 125 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Sanmina by 88.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock worth $20,040,000 after buying an additional 124,190 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Sanmina by 32.8% in the 4th 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 during the last quarter. Institutional investors own 92.71% of the company's stock.

Insiders Place Their Bets

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the 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 completion of the sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This represents a 12.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.22% of the stock is currently owned by company insiders.

Sanmina Stock Performance

Sanmina stock traded up $3.51 during trading on Monday, reaching $83.46. The company had a trading volume of 377,516 shares, compared to its average volume of 391,720. Sanmina Co. has a 52 week low of $61.52 and a 52 week high of $91.12. The firm's 50-day simple moving average is $76.46 and its 200 day simple moving average is $78.96. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping 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 company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the firm earned $1.30 EPS. Sanmina's revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.

Sanmina announced that its Board of Directors has initiated a share buyback program on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America upgraded 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 research note 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 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.