Frontier Capital Management Co. LLC Acquires 90,627 Shares of Sanmina Co. (NASDAQ:SANM)

Frontier Capital Management Co. LLC boosted its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,005,158 shares of the electronics maker's stock after purchasing an additional 90,627 shares during the quarter. Frontier Capital Management Co. LLC owned about 1.85% of Sanmina worth $76,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Sanmina during the third quarter worth $32,000. R Squared Ltd bought a new stake in shares of Sanmina in the fourth quarter valued at about $58,000. GAMMA Investing LLC boosted its position in shares of Sanmina by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock valued at $97,000 after acquiring an additional 352 shares during the period. Principal Securities Inc. boosted its position in shares of Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after acquiring an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Sanmina by 283.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock valued at $108,000 after acquiring an additional 1,056 shares during the period. 92.71% of the stock is owned by institutional investors.

Insider Activity at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the sale, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of 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 boosted their price target for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Sanmina Trading Up 4.4%

Shares of Sanmina stock traded up $3.51 on Monday, hitting $83.46. The stock had a trading volume of 377,516 shares, compared to its average volume of 391,720. The stock has a 50 day moving average of $76.46 and a 200 day moving average of $78.96. Sanmina Co. has a twelve month low of $61.52 and a twelve month high of $91.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The firm has a market capitalization of $4.46 billion, a P/E ratio of 20.41, a PEG ratio of 1.29 and a beta of 1.10.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.

Sanmina announced that its Board of Directors has approved a stock buyback plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.