Arrowstreet Capital Limited Partnership Acquires Shares of 18,438 Sanmina Co. (NASDAQ:SANM)

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

Several other large investors have also added to or reduced their stakes in SANM. Pictet Asset Management Holding SA boosted its stake in shares of Sanmina by 16.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,122 shares of the electronics maker's stock worth $615,000 after buying an additional 1,122 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Sanmina during the fourth quarter valued at approximately $581,000. Norges Bank bought a new position in Sanmina in the fourth quarter valued at approximately $48,823,000. JPMorgan Chase & Co. increased its position in shares of Sanmina by 32.4% during the 4th quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock worth $51,092,000 after purchasing an additional 165,285 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Sanmina during the 4th quarter worth approximately $223,000. Institutional investors and hedge funds own 92.71% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on SANM shares. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $58.00 to $92.00 in a research report 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 Activity

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of the 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 owns 77,120 shares in the company, valued at $6,439,520. This represents a 11.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 80,295 shares of the company's stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,405 shares of company stock valued at $2,821,682. 3.22% of the stock is owned by insiders.

Sanmina Stock Performance

Shares of SANM traded down $2.13 during trading hours on Thursday, hitting $73.05. The company had a trading volume of 90,281 shares, compared to its average volume of 392,924. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.29 and a beta of 1.00. The business has a fifty day moving average of $79.02 and a 200-day moving average of $77.47. 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 declared that its Board of Directors has approved a share buyback program on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board 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.