Nicola Wealth Management LTD. Decreases Position in Sanmina Co. (NASDAQ:SANM)

Nicola Wealth Management LTD. cut its stake in Sanmina Co. (NASDAQ:SANM) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,100 shares of the electronics maker’s stock after selling 6,000 shares during the quarter. Nicola Wealth Management LTD. owned approximately 0.10% of Sanmina worth $4,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted 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 buying an additional 82,409 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Franklin Resources Inc. lifted its stake in Sanmina by 6.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after purchasing an additional 79,565 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its stake in Sanmina by 19.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after purchasing an additional 149,600 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Sanmina by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock worth $50,239,000 after purchasing an additional 80,574 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares in the company, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the firm’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 owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,103 shares of company stock worth $2,798,896 in the last 90 days. Insiders own 3.22% of the company’s stock.

Sanmina Stock Down 6.8 %

Shares of NASDAQ SANM opened at $76.39 on Tuesday. The company has a 50 day simple moving average of $82.57 and a 200-day simple moving average of $75.89. The company has a market capitalization of $4.15 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.29 and a beta of 0.92. 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 Co. has a 1 year low of $57.52 and a 1 year high of $91.12.

Sanmina announced that its board has authorized a stock buyback plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SANM has been the topic of a number of research reports. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. Craig Hallum raised their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.