Earnest Partners LLC Acquires 19,144 Shares of Sanmina Co. (NASDAQ:SANM)

Earnest Partners LLC grew its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,073,818 shares of the electronics maker's stock after acquiring an additional 19,144 shares during the quarter. Earnest Partners LLC owned about 1.98% of Sanmina worth $81,256,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SANM. Wilmington Savings Fund Society FSB purchased a new position in Sanmina during the third quarter worth approximately $32,000. R Squared Ltd acquired a new stake in Sanmina during the fourth quarter worth about $58,000. GAMMA Investing LLC raised its holdings in shares of Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock worth $97,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. lifted its stake in shares of 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 in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 1,056 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SANM has been the subject of several analyst reports. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com cut shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

Sanmina Stock Performance

Shares of SANM traded up $1.72 during trading hours on Friday, reaching $80.23. 336,239 shares of the company's stock traded hands, compared to its average volume of 390,210. Sanmina Co. has a twelve month low of $60.54 and a twelve month high of $91.12. The business's fifty day simple moving average is $76.56 and its two-hundred day simple moving average is $78.25. 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 capitalization of $4.29 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.29 and a beta of 1.10.

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

Sanmina declared that its Board of Directors has approved a stock repurchase program on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the sale, the director now directly owns 65,408 shares of the company's stock, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 80,295 shares of the company's stock, valued at $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. Insiders have sold a total of 23,405 shares of company stock valued at $1,986,682 over the last three months. 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.