EP Wealth Advisors LLC bought a new stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,300 shares of the electronics maker's stock, valued at approximately $250,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Sanmina in the 4th quarter valued at about $48,823,000. Franklin Resources Inc. raised its position in shares of Sanmina by 39.6% during the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock worth $139,407,000 after acquiring an additional 522,534 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Sanmina during the 4th quarter worth about $34,868,000. FMR LLC raised its position in shares of Sanmina by 14.2% during the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock worth $148,239,000 after acquiring an additional 243,258 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 acquiring an additional 165,285 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction 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 sale, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.22% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. StockNews.com lowered 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 lifted their price target for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th.
Get Our Latest Stock Report on SANM
Sanmina Stock Performance
Shares of NASDAQ:SANM traded up $0.44 during trading on Friday, reaching $84.56. The company had a trading volume of 218,462 shares, compared to its average volume of 391,106. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. 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 stock's fifty day moving average price is $77.35 and its 200 day moving average price is $79.36. Sanmina Co. has a fifty-two week low of $61.52 and a fifty-two week high of $91.12.
Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results 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 business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that Sanmina Co. will post 5.15 EPS for the current year.
Sanmina declared that its board has authorized a stock buyback program on Monday, January 27th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Sanmina Profile
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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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