Cubist Systematic Strategies LLC bought a new position in Sanmina Co. (NASDAQ:SANM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,465 shares of the electronics maker's stock, valued at approximately $1,473,000.
Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in shares of Sanmina by 6.5% during the fourth quarter. Cetera Investment Advisers now owns 3,694 shares of the electronics maker's stock worth $279,000 after purchasing an additional 224 shares in the last quarter. Captrust Financial Advisors raised its position in Sanmina by 6.9% in the fourth quarter. Captrust Financial Advisors now owns 8,223 shares of the electronics maker's stock worth $622,000 after acquiring an additional 534 shares during the period. Alyeska Investment Group L.P. purchased a new position in Sanmina in the 4th quarter worth approximately $34,868,000. Gallagher Fiduciary Advisors LLC increased its position in Sanmina by 18.5% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 6,835 shares of the electronics maker's stock valued at $517,000 after purchasing an additional 1,069 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Sanmina by 32.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,985 shares of the electronics maker's stock valued at $453,000 after purchasing an additional 1,458 shares during the last quarter. 92.71% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on SANM. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and lifted their price objective 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 report on Thursday, February 6th.
Read Our Latest Report on SANM
Sanmina Stock Performance
Shares of Sanmina stock traded up $0.44 on Friday, reaching $84.56. 218,462 shares of the company were exchanged, compared to its average volume of 391,360. Sanmina Co. has a 1-year low of $61.52 and a 1-year high of $91.12. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.29 and a beta of 1.10. The company's 50-day moving average is $77.35 and its two-hundred day moving average is $79.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.
Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. The firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, research analysts expect that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.
Sanmina declared that its board has authorized a share 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 an indication that the company's leadership believes its shares are undervalued.
Insider Buying and Selling at Sanmina
In related news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 approximately $6,906,975.90. This trade represents a 12.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.22% of the company's stock.
About Sanmina
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Free Report)
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.
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