Headlands Technologies LLC Sells 627 Shares of Sanmina Co. (NASDAQ:SANM)

Headlands Technologies LLC decreased its position in Sanmina Co. (NASDAQ:SANM) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,154 shares of the electronics maker’s stock after selling 627 shares during the period. Headlands Technologies LLC’s holdings in Sanmina were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SANM. Franklin Resources Inc. grew its position in shares of Sanmina by 39.6% during the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock worth $139,407,000 after buying an additional 522,534 shares during the period. Geode Capital Management LLC lifted its holdings in Sanmina by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock worth $116,277,000 after acquiring an additional 21,239 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sanmina by 32.4% in the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker’s stock valued at $51,092,000 after acquiring an additional 165,285 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Sanmina by 13.8% in the fourth quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock worth $50,239,000 after acquiring an additional 80,574 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sanmina during the fourth quarter worth about $48,823,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Price Performance

NASDAQ SANM opened at $67.30 on Friday. The firm’s 50 day moving average is $80.94 and its 200-day moving average is $77.13. 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 company has a market capitalization of $3.66 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12.

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

Insider Buying and Selling at Sanmina

In other Sanmina news, 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 value of $979,853.82. Following the completion of the transaction, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the sale, the director now owns 65,408 shares in the company, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,405 shares of company stock worth $2,821,682. Insiders own 3.22% of the company’s stock.

Wall Street Analyst Weigh In

SANM has been the subject of a number of research reports. StockNews.com cut 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 increased their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

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.