AQR Capital Management LLC Sells 14,174 Shares of Sanmina Co. (NASDAQ:SANM)

AQR Capital Management LLC lessened its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,298 shares of the electronics maker's stock after selling 14,174 shares during the quarter. AQR Capital Management LLC owned approximately 0.12% of Sanmina worth $5,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Sanmina in the 4th quarter worth approximately $48,823,000. Franklin Resources Inc. lifted its position in Sanmina by 39.6% during the fourth 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. FMR LLC boosted its stake in Sanmina by 14.2% in the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock worth $148,239,000 after buying an additional 243,258 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Sanmina by 32.4% in the 4th 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, Assenagon Asset Management S.A. increased its stake in shares of Sanmina by 88.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock valued at $20,040,000 after acquiring an additional 124,190 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Stock Up 2.2%

Shares of SANM traded up $1.81 during mid-day trading on Tuesday, reaching $85.27. The company's stock had a trading volume of 223,632 shares, compared to its average volume of 391,050. Sanmina Co. has a 1 year low of $61.52 and a 1 year high of $91.12. 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 cap of $4.56 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The business has a fifty day moving average of $76.59 and a 200 day moving average of $79.07.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. As a group, analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.

Sanmina declared that its Board of Directors has approved a share buyback plan on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Sanmina

In other news, Director Mario M. Rosati sold 11,391 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.22% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

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.