O Shaughnessy Asset Management LLC Sells 521 Shares of Sanmina Co. (NASDAQ:SANM)

O Shaughnessy Asset Management LLC trimmed its holdings in Sanmina Co. (NASDAQ:SANM) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,143 shares of the electronics maker’s stock after selling 521 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Sanmina were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SANM. Norges Bank bought a new stake in Sanmina in the 4th quarter valued at $48,823,000. JPMorgan Chase & Co. lifted its stake in shares of Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after buying an additional 366,653 shares during the period. Weiss Asset Management LP grew its position in Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after buying an additional 325,974 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Sanmina by 88.3% during the fourth 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 in the last quarter. Finally, Allianz Asset Management GmbH increased its stake 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 acquiring an additional 80,574 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insider Buying and Selling

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 transaction of $979,853.82. Following the completion of the transaction, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the sale, the director now owns 77,120 shares in the company, valued at $6,439,520. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock worth $2,821,682 in the last 90 days. 3.22% of the stock is owned by company insiders.

Sanmina Stock Down 2.7 %

Shares of SANM opened at $67.30 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $80.94 and a two-hundred day moving average price of $77.13. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 16.45, a P/E/G 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.

Sanmina announced that its board has authorized a stock buyback program on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented 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 upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Sanmina Company 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.