William Blair Investment Management LLC Has $29.43 Million Position in Sanmina Co. (NASDAQ:SANM)

William Blair Investment Management LLC raised its stake in shares of Sanmina Co. (NASDAQ:SANM) by 2.4% during the 4th quarter, HoldingsChannel reports. The firm owned 388,978 shares of the electronics maker’s stock after purchasing an additional 9,016 shares during the quarter. William Blair Investment Management LLC’s holdings in Sanmina were worth $29,434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SANM. JPMorgan Chase & Co. grew its holdings in Sanmina by 255.9% during the third 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 holdings in 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 purchasing an additional 325,974 shares during the last quarter. Global Alpha Capital Management Ltd. grew its holdings in Sanmina by 19.4% during 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 last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 124,190 shares during the last quarter. Finally, FMR LLC grew its holdings in Sanmina by 5.0% during 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 last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and increased their price target for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note 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 on Thursday, January 30th. The stock was 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 directly owns 77,120 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 33,103 shares of company stock valued at $2,798,896 over the last ninety days. 3.22% of the stock is owned by company insiders.

Sanmina Trading Up 0.1 %

Shares of Sanmina stock opened at $76.19 on Wednesday. The company’s fifty day simple moving average is $82.28 and its 200-day simple moving average is $76.33. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.29 and a beta of 0.85. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12.

Sanmina declared that its Board of Directors has approved a stock repurchase program on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

About Sanmina

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.