Sanmina Co. (NASDAQ:SANM) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its stake in shares of Sanmina Co. (NASDAQ:SANM) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,972 shares of the electronics maker’s stock after selling 12,800 shares during the period. First Eagle Investment Management LLC owned 0.37% of Sanmina worth $15,208,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Sanmina by 5.0% in the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock valued at $117,444,000 after acquiring an additional 82,409 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after acquiring an additional 35,622 shares during the last quarter. Franklin Resources Inc. raised its holdings in Sanmina by 6.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock valued at $89,018,000 after acquiring an additional 79,565 shares during the last quarter. Global Alpha Capital Management Ltd. raised its holdings in Sanmina by 19.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after acquiring an additional 149,600 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Sanmina by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock valued at $50,239,000 after acquiring an additional 80,574 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now directly owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mario M. Rosati sold 11,391 shares of the company’s 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 sale, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,103 shares of company stock valued at $2,798,896. Company insiders own 3.22% of the company’s stock.

Sanmina Stock Down 1.9 %

Shares of NASDAQ SANM opened at $73.38 on Friday. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The firm has a fifty day moving average of $82.33 and a 200-day moving average of $76.09. The stock has a market capitalization of $3.99 billion, a PE ratio of 17.94, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12.

Sanmina announced that its Board of Directors has authorized a share repurchase program on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note 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.