New Age Alpha Advisors LLC Takes Position in Sanmina Co. (NASDAQ:SANM)

New Age Alpha Advisors LLC acquired a new stake in Sanmina Co. (NASDAQ:SANM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,681 shares of the electronics maker's stock, valued at approximately $581,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position in Sanmina by 5.0% in the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker's stock valued at $117,444,000 after acquiring an additional 82,409 shares during the period. Geode Capital Management LLC grew its position in shares of Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker's stock valued at $103,727,000 after buying an additional 35,622 shares during the last quarter. Franklin Resources Inc. grew its position 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 buying an additional 79,565 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 buying an additional 165,285 shares during the period. Finally, Allianz Asset Management GmbH raised 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 worth $50,239,000 after acquiring an additional 80,574 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research firms have weighed in on SANM. StockNews.com downgraded 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 boosted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Stock Performance

Shares of SANM traded down $8.35 during mid-day trading on Thursday, hitting $69.16. The stock had a trading volume of 495,744 shares, compared to its average volume of 386,574. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The firm has a market cap of $3.76 billion, a P/E ratio of 16.91, a PEG ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12. The business has a fifty day moving average price of $81.57 and a 200-day moving average price of $77.19.

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

Insider Activity at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the sale, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction on 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 of the company's stock, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. 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. Company 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.