Victory Capital Management Inc. Sells 29,016 Shares of Sanmina Co. (NASDAQ:SANM)

Victory Capital Management Inc. decreased its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,978 shares of the electronics maker’s stock after selling 29,016 shares during the period. Victory Capital Management Inc. owned 0.70% of Sanmina worth $28,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Sanmina during the third quarter valued at approximately $32,000. R Squared Ltd bought a new position in shares of Sanmina during the fourth quarter valued at approximately $58,000. GAMMA Investing LLC increased its stake 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 purchasing an additional 352 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after purchasing an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Sanmina by 283.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SANM shares. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the sale, the director now owns 77,120 shares in the company, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,103 shares of company stock worth $2,798,896. 3.22% of the stock is owned by insiders.

Sanmina Price Performance

Shares of SANM opened at $73.81 on Tuesday. The company has a market capitalization of $4.01 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. 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 firm has a 50 day moving average of $82.41 and a 200 day moving average of $76.09. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $91.12.

Sanmina declared that its Board of Directors has authorized a stock buyback program on Monday, January 27th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is 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.