Great Lakes Advisors LLC Sells 2,427 Shares of Sanmina Co. (NASDAQ:SANM)

Great Lakes Advisors LLC reduced its stake in shares of Sanmina Co. (NASDAQ:SANM) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 70,185 shares of the electronics maker’s stock after selling 2,427 shares during the period. Great Lakes Advisors LLC’s holdings in Sanmina were worth $5,311,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Atria Investments Inc raised its holdings in shares of Sanmina by 6.6% during the third quarter. Atria Investments Inc now owns 19,757 shares of the electronics maker’s stock worth $1,352,000 after acquiring an additional 1,226 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in Sanmina by 2.8% during 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 purchasing an additional 777 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Sanmina by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker’s stock valued at $27,859,000 after purchasing an additional 3,591 shares during the period. Empower Advisory Group LLC lifted its holdings in shares of Sanmina by 1.0% in the third quarter. Empower Advisory Group LLC now owns 262,252 shares of the electronics maker’s stock valued at $17,951,000 after purchasing an additional 2,567 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Sanmina by 25.5% during the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after buying an additional 368 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Buying and Selling

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the business’s stock in a transaction dated 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 directly owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,103 shares of company stock valued at $2,798,896. Insiders own 3.22% of the company’s stock.

Sanmina Trading Down 1.9 %

Shares of NASDAQ:SANM opened at $73.38 on Friday. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The business has a 50 day moving average of $82.33 and a 200-day moving average of $76.09. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The stock has a market cap of $3.99 billion, a PE ratio of 17.94, a P/E/G ratio of 1.29 and a beta of 0.85.

Sanmina announced that its board has authorized a share repurchase plan on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.