Envestnet Portfolio Solutions Inc. Sells 154 Shares of Sanmina Co. (NASDAQ:SANM)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Sanmina Co. (NASDAQ:SANM) by 2.9% during the fourth quarter, HoldingsChannel reports. The fund owned 5,203 shares of the electronics maker’s stock after selling 154 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sanmina were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SANM. JPMorgan Chase & Co. grew its holdings in Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after purchasing an additional 366,653 shares during the last quarter. Weiss Asset Management LP grew its stake in shares of Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after buying an additional 325,974 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Sanmina by 88.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock valued at $20,040,000 after buying an additional 124,190 shares during the last quarter. FMR LLC raised 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 worth $117,444,000 after buying an additional 82,409 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in Sanmina by 13.8% during the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock valued at $50,239,000 after acquiring an additional 80,574 shares during the period. Institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

SANM has been the topic of a number of recent analyst reports. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

Sanmina Trading Down 0.1 %

SANM opened at $78.53 on Thursday. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12. The company has a market capitalization of $4.27 billion, a P/E ratio of 19.20, a PEG ratio of 1.29 and a beta of 0.85. The stock’s fifty day moving average is $82.21 and its two-hundred day moving average is $76.78. 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 declared that its board has initiated a stock repurchase plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 transaction, the director now directly owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction 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 directly owns 77,120 shares in the company, valued at $6,439,520. This trade represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,405 shares of company stock worth $2,821,682. Company insiders own 3.22% of the company’s stock.

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.