Franklin Resources Inc. Grows Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Franklin Resources Inc. lifted its holdings in Sanmina Co. (NASDAQ:SANM) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,842,302 shares of the electronics maker’s stock after acquiring an additional 522,534 shares during the period. Franklin Resources Inc. owned approximately 3.39% of Sanmina worth $139,407,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Sanmina during the 3rd quarter worth approximately $32,000. R Squared Ltd acquired a new position in shares of Sanmina during the fourth quarter worth $58,000. GAMMA Investing LLC boosted its stake in shares of Sanmina by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock valued at $97,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. grew its holdings in Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after purchasing an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after buying an additional 1,056 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

SANM has been the subject of several recent analyst reports. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

Insider Transactions at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction that occurred 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 represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the transaction, the director now directly owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,405 shares of company stock valued at $2,821,682. Insiders own 3.22% of the company’s stock.

Sanmina Trading Up 1.9 %

NASDAQ SANM opened at $77.51 on Thursday. The company’s fifty day moving average price is $81.57 and its two-hundred day moving average price is $77.19. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 12 month low of $57.52 and a 12 month 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 announced 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 shares. This buyback authorization allows the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.