Prudential Financial Inc. Increases Stake in Sanmina Co. (NASDAQ:SANM)

Prudential Financial Inc. raised its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 28.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 143,033 shares of the electronics maker’s stock after acquiring an additional 31,900 shares during the quarter. Prudential Financial Inc.’s holdings in Sanmina were worth $10,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SANM. FMR LLC raised its position in shares of Sanmina by 5.0% in the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock valued at $117,444,000 after purchasing an additional 82,409 shares during the period. Geode Capital Management LLC raised its holdings in Sanmina by 2.4% during 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 period. Franklin Resources Inc. lifted its position in shares of Sanmina by 6.4% during the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after acquiring an additional 79,565 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Sanmina by 13.8% in the fourth quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock worth $50,239,000 after acquiring an additional 80,574 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sanmina by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 610,067 shares of the electronics maker’s stock valued at $46,164,000 after purchasing an additional 3,330 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Sanmina Trading Down 1.4 %

Sanmina stock opened at $76.65 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. The stock has a market cap of $4.16 billion, a P/E ratio of 18.74, a PEG ratio of 1.29 and a beta of 0.85. The firm’s fifty day moving average price is $81.99 and its 200-day moving average price is $76.88.

Sanmina announced that its board has authorized a share 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Mario M. Rosati sold 11,391 shares of the business’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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene A. Delaney sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 77,120 shares in the company, valued at $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,405 shares of company stock worth $2,821,682 over the last ninety days. 3.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SANM shares. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th.

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.