Sanmina Co. (NASDAQ:SANM) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lowered its position in Sanmina Co. (NASDAQ:SANM) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,972 shares of the electronics maker’s stock after selling 12,800 shares during the quarter. First Eagle Investment Management LLC’s holdings in Sanmina were worth $15,208,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the 3rd quarter valued at about $32,000. R Squared Ltd acquired a new stake in shares of Sanmina in the 4th quarter valued at about $58,000. GAMMA Investing LLC raised its stake in shares of Sanmina by 37.8% in the 4th 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. raised its stake in shares of Sanmina by 13.6% in the 4th 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 raised its stake in shares of Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after purchasing an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Price Performance

SANM opened at $73.38 on Friday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. The company’s 50-day moving average price is $82.33 and its 200 day moving average price is $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.

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 shares. This repurchase authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in 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 shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insiders Place Their Bets

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the transaction, the director now owns 77,120 shares in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,103 shares of company stock worth $2,798,896. 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.