Man Group plc Makes New Investment in Sanmina Co. (NASDAQ:SANM)

Man Group plc purchased a new position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,278 shares of the electronics maker's stock, valued at approximately $929,000.

A number of other institutional investors have also recently bought and sold shares of SANM. R Squared Ltd acquired a new stake in shares of Sanmina in the 4th quarter valued at $58,000. Principal Securities Inc. boosted 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. Smartleaf Asset Management LLC boosted its stake in shares of Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock valued at $108,000 after purchasing an additional 1,056 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Sanmina by 843.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 1,543 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock valued at $166,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Sanmina Price Performance

Shares of Sanmina stock traded up $2.41 during trading on Tuesday, reaching $86.61. The company's stock had a trading volume of 595,055 shares, compared to its average volume of 398,529. The stock has a 50-day moving average price of $78.23 and a two-hundred day moving average price of $79.68. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a one year low of $61.52 and a one year high of $91.12. The stock has a market capitalization of $4.63 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly 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. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina declared that its board has initiated a share buyback plan on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on SANM shares. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

About Sanmina

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.