American Century Companies Inc. Decreases Stock Position in Sanmina Co. (NASDAQ:SANM)

American Century Companies Inc. decreased its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 855,680 shares of the electronics maker’s stock after selling 6,567 shares during the period. American Century Companies Inc. owned approximately 1.57% of Sanmina worth $64,749,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina during the 3rd quarter worth approximately $32,000. R Squared Ltd acquired a new stake in shares of Sanmina during the fourth quarter worth $58,000. GAMMA Investing LLC grew its holdings 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 valued at $97,000 after buying an additional 352 shares during the last quarter. Principal Securities Inc. increased its position in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after acquiring an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after acquiring an additional 1,056 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SANM shares. StockNews.com lowered 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 lifted their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insiders Place Their Bets

In related news, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction 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 sale, the director now directly owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were 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 in the company, valued at approximately $6,906,975.90. This represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,405 shares of company stock worth $2,821,682. Corporate insiders own 3.22% of the company’s stock.

Sanmina Stock Performance

Shares of SANM stock opened at $78.58 on Wednesday. The stock has a market cap of $4.27 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The business has a 50-day simple moving average of $82.30 and a 200-day simple moving average of $76.76. 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 announced that its Board of Directors has approved a stock repurchase plan on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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.