Lazard Asset Management LLC Invests $1.35 Million in Sanmina Co. (NASDAQ:SANM)

Lazard Asset Management LLC acquired a new position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,858 shares of the electronics maker's stock, valued at approximately $1,351,000.

A number of other institutional investors also recently modified their holdings of SANM. Norges Bank bought a new position in shares of Sanmina in the fourth quarter valued at approximately $48,823,000. Franklin Resources Inc. raised its stake in shares of Sanmina by 39.6% in the fourth 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 during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Sanmina in the fourth quarter worth about $34,868,000. FMR LLC raised its stake in shares of Sanmina by 14.2% in the fourth 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sanmina by 32.4% in the fourth 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 during the last quarter. Institutional investors own 92.71% of the company's stock.

Wall Street Analyst Weigh In

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

Sanmina Stock Up 0.5%

Shares of NASDAQ:SANM opened at $84.56 on Monday. Sanmina Co. has a one year low of $61.52 and a one year high of $91.12. The company has a 50 day moving average of $77.35 and a 200-day moving average of $79.48. 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 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.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping 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 company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the company earned $1.30 EPS. Sanmina's revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current year.

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

Insider Activity at Sanmina

In related news, 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 transaction of $979,853.82. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.

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