Prudential Financial Inc. Buys 31,900 Shares of Sanmina Co. (NASDAQ:SANM)

Prudential Financial Inc. grew its stake in shares of Sanmina Co. (NASDAQ:SANM) by 28.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,033 shares of the electronics maker’s stock after purchasing an additional 31,900 shares during the period. Prudential Financial Inc. owned approximately 0.26% of Sanmina worth $10,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC raised its stake in Sanmina by 17.9% during the 4th quarter. LPL Financial LLC now owns 17,157 shares of the electronics maker’s stock worth $1,298,000 after buying an additional 2,607 shares during the period. Fox Run Management L.L.C. acquired a new stake in Sanmina in the fourth quarter valued at approximately $424,000. KLP Kapitalforvaltning AS acquired a new position in shares of Sanmina during the fourth quarter worth approximately $855,000. Hillsdale Investment Management Inc. raised its position in shares of Sanmina by 0.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 42,500 shares of the electronics maker’s stock worth $3,216,000 after purchasing an additional 300 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Sanmina by 5.3% in the 4th quarter. Teacher Retirement System of Texas now owns 99,156 shares of the electronics maker’s stock valued at $7,503,000 after purchasing an additional 5,006 shares during the period. Institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SANM shares. 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 upped their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Insider Transactions at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the sale, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,405 shares of company stock worth $2,821,682 in the last quarter. 3.22% of the stock is currently owned by corporate insiders.

Sanmina Stock Down 1.4 %

Shares of NASDAQ:SANM opened at $76.65 on Friday. 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 business’s 50 day moving average is $81.99 and its 200 day moving average is $76.88. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.29 and a beta of 0.85.

Sanmina announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.