Sanmina Co. (NASDAQ:SANM) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd reduced its position in shares of Sanmina Co. (NASDAQ:SANM) by 82.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,818 shares of the electronics maker’s stock after selling 26,674 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Sanmina were worth $440,000 at the end of the most recent quarter.

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

Insider Activity at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was 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. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value 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 $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,405 shares of company stock valued at $2,821,682 in the last ninety days. Insiders own 3.22% of the company’s stock.

Sanmina Stock Down 0.1 %

SANM stock opened at $70.52 on Wednesday. The stock has a market cap of $3.83 billion, a P/E ratio of 17.24, a PEG ratio of 1.29 and a beta of 1.00. 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 Co. has a twelve month low of $57.52 and a twelve month high of $91.12. The company’s 50 day moving average is $80.33 and its two-hundred day moving average is $77.22.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SANM. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.