Sanmina Co. (NASDAQ:SANM) Shares Acquired by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC increased its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 47.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,288 shares of the electronics maker’s stock after acquiring an additional 3,307 shares during the period. Kesler Norman & Wride LLC’s holdings in Sanmina were worth $779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock valued at $139,407,000 after purchasing an additional 522,534 shares during the period. FMR LLC grew its stake 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 period. Geode Capital Management LLC increased its holdings in Sanmina by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock worth $116,277,000 after acquiring an additional 21,239 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 period. Finally, Allianz Asset Management GmbH lifted its holdings in Sanmina by 13.8% during the fourth quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock valued at $50,239,000 after purchasing an additional 80,574 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Insider Activity at Sanmina

In other news, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the sale, the director now owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,405 shares of company stock valued at $2,821,682. Corporate insiders own 3.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SANM shares. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the stock 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.

Sanmina Price Performance

Sanmina stock opened at $77.51 on Thursday. The company has a fifty day simple moving average of $81.57 and a 200-day simple moving average of $77.19. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.95, a PEG 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 Co. has a 52-week low of $57.52 and a 52-week high of $91.12.

Sanmina announced that its board 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 reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board 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.