Sanmina Co. (NASDAQ:SANM) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. lessened its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 85.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,722 shares of the electronics maker’s stock after selling 66,291 shares during the quarter. Phocas Financial Corp.’s holdings in Sanmina were worth $887,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings 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 increased its holdings in shares of Sanmina by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after buying an additional 35,622 shares during the last quarter. Franklin Resources Inc. increased its stake in 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 during the last quarter. Global Alpha Capital Management Ltd. raised its position in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after purchasing an additional 149,600 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Sanmina by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock valued at $50,239,000 after buying an additional 80,574 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 33,103 shares of company stock worth $2,798,896 over the last ninety days. Corporate insiders own 3.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Sanmina Stock Down 1.3 %

Shares of NASDAQ:SANM opened at $83.79 on Wednesday. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The firm’s 50 day moving average price is $82.26 and its 200 day moving average price is $75.55. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. 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 has authorized a share repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.