Bridgewater Associates LP Grows Holdings in Sanmina Co. (NASDAQ:SANM)

Bridgewater Associates LP raised its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 30.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,648 shares of the electronics maker's stock after purchasing an additional 17,502 shares during the quarter. Bridgewater Associates LP owned 0.14% of Sanmina worth $5,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Sanmina in the 3rd quarter valued at $32,000. R Squared Ltd bought a new position in Sanmina in the 4th quarter valued at $58,000. GAMMA Investing LLC grew its stake in Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock valued at $97,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. grew its stake in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $108,000 after acquiring an additional 1,056 shares during the period. Institutional investors own 92.71% of the company's stock.

Wall Street Analyst Weigh In

SANM has been the topic of a number of research reports. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $58.00 to $92.00 in a research note 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 Transactions at Sanmina

In other news, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 transaction, the director now 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 at the SEC website. Also, Director Eugene A. Delaney sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total transaction of $835,000.00. Following the transaction, the director now directly owns 77,120 shares of the company's stock, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock worth $2,821,682 over the last quarter. Corporate insiders own 3.22% of the company's stock.

Sanmina Stock Performance

Shares of SANM traded up $3.58 during trading hours on Wednesday, hitting $78.08. The company's stock had a trading volume of 62,612 shares, compared to its average volume of 391,660. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.29 and a beta of 1.00. 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 business has a 50 day simple moving average of $77.85 and a two-hundred day simple moving average of $77.74. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12.

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

Sanmina 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.