Arrowstreet Capital Limited Partnership Invests $1.40 Million in Sanmina Co. (NASDAQ:SANM)

Arrowstreet Capital Limited Partnership acquired a new position in Sanmina Co. (NASDAQ:SANM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,438 shares of the electronics maker's stock, valued at approximately $1,395,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Sanmina during the 4th quarter worth $48,823,000. JPMorgan Chase & Co. boosted its stake in Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock worth $34,903,000 after buying an additional 366,653 shares during the period. Assenagon Asset Management S.A. boosted its stake 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 worth $20,040,000 after buying an additional 124,190 shares during the period. Allianz Asset Management GmbH increased its position in shares of Sanmina by 13.8% during the fourth 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 last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Sanmina by 6.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker's stock valued at $89,018,000 after acquiring an additional 79,565 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.

Wall Street Analysts Forecast Growth

SANM has been the subject of several research reports. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th.

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Sanmina Stock Down 3.3 %

Sanmina stock traded down $2.55 during mid-day trading on Wednesday, reaching $74.00. 150,318 shares of the company's stock were exchanged, compared to its average volume of 392,441. 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 Co. has a twelve month low of $57.52 and a twelve month high of $91.12. The company has a market cap of $4.02 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.29 and a beta of 1.00. The company has a fifty day moving average of $79.24 and a 200-day moving average of $77.48.

Sanmina declared that its Board of Directors has approved a stock buyback 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 repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Sanmina

In other news, Director Mario M. Rosati sold 11,391 shares of the business'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 directly owns 80,295 shares of the company's stock, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene A. Delaney sold 11,712 shares of the firm's stock in a transaction that occurred on 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 directly owns 65,408 shares in the company, 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. Over the last three months, insiders sold 33,405 shares of company stock worth $2,821,682. Company insiders own 3.22% of the company's stock.

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.