Delphi Management Inc. MA Decreases Stock Position in Sanmina Co. (NASDAQ:SANM)

Delphi Management Inc. MA lessened its stake in Sanmina Co. (NASDAQ:SANM) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 8,470 shares of the electronics maker’s stock after selling 384 shares during the quarter. Delphi Management Inc. MA’s holdings in Sanmina were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SANM. State of New Jersey Common Pension Fund D boosted its holdings in Sanmina by 2.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,598 shares of the electronics maker’s stock worth $1,958,000 after acquiring an additional 777 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Sanmina by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker’s stock valued at $27,859,000 after buying an additional 3,591 shares during the last quarter. KBC Group NV boosted its stake in shares of Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after buying an additional 368 shares during the last quarter. Phocas Financial Corp. purchased a new position in shares of Sanmina during the 3rd quarter valued at approximately $5,340,000. Finally, Global Alpha Capital Management Ltd. boosted its stake in shares of Sanmina by 19.4% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after buying an additional 149,600 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the transaction, the director now directly owns 65,408 shares in the company, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the transaction, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,103 shares of company stock worth $2,798,896 over the last ninety days. 3.22% of the stock is owned by insiders.

Sanmina Stock Performance

Shares of SANM opened at $76.12 on Tuesday. The business’s fifty day moving average price is $82.30 and its 200 day moving average price is $76.28. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The stock has a market capitalization of $4.14 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. 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 announced that its Board of Directors has authorized a stock buyback program on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SANM has been the subject of several research analyst reports. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and increased their target price for the company from $58.00 to $92.00 in a research note 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.