Millennium Management LLC Purchases 113,314 Shares of Sanmina Co. (NASDAQ:SANM)

Millennium Management LLC raised its holdings in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,862 shares of the electronics maker's stock after acquiring an additional 113,314 shares during the quarter. Millennium Management LLC owned approximately 0.75% of Sanmina worth $30,787,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SANM. Norges Bank acquired a new stake in shares of Sanmina during the fourth quarter worth approximately $48,823,000. Franklin Resources Inc. lifted its position in Sanmina by 39.6% in the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock worth $139,407,000 after buying 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 valued at $34,868,000. FMR LLC grew its holdings 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 valued at $148,239,000 after acquiring an additional 243,258 shares in the last quarter. Finally, JPMorgan Chase & Co. increased 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 and hedge funds own 92.71% of the company's stock.

Insiders Place Their Bets

In other Sanmina news, 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 transaction, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This trade represents a 12.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.22% of the company's stock.

Sanmina Stock Up 2.8%

SANM stock traded up $2.34 during trading hours on Thursday, hitting $84.45. The company's stock had a trading volume of 600,592 shares, compared to its average volume of 396,716. The stock has a 50 day moving average price of $77.79 and a two-hundred day moving average price of $79.58. Sanmina Co. has a 12 month low of $61.52 and a 12 month high of $91.12. The company has a market capitalization of $4.52 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping 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 net margin of 2.99% and a return on equity of 10.61%. Sanmina's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. On average, equities research analysts expect that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina announced that its board has initiated a stock buyback program on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently issued reports on SANM. Bank of America raised 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 research report on Wednesday, January 29th. Wall Street Zen lowered Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

Sanmina 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.