Northern Trust Corp Purchases 59,878 Shares of Sanmina Co. (NASDAQ:SANM)

Northern Trust Corp boosted its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 799,430 shares of the electronics maker's stock after purchasing an additional 59,878 shares during the period. Northern Trust Corp owned approximately 1.47% of Sanmina worth $60,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sanmina during the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new position in shares of Sanmina in the fourth quarter valued at $58,000. GAMMA Investing LLC grew its holdings in Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock valued at $97,000 after purchasing an additional 352 shares in the last quarter. Principal Securities Inc. increased its stake in Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after buying an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $108,000 after buying an additional 1,056 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Price Performance

Sanmina stock traded down $0.59 during midday trading on Friday, hitting $79.95. The company's stock had a trading volume of 257,927 shares, compared to its average volume of 391,777. The company has a market capitalization of $4.27 billion, a PE ratio of 19.55, 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. The stock's 50-day moving average price is $76.46 and its 200-day moving average price is $78.87. Sanmina Co. has a 12 month low of $61.52 and a 12 month high of $91.12.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping 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 firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company posted $1.30 EPS. The business's quarterly revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of Sanmina 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 transaction, the director now directly owns 80,295 shares of the company's stock, valued at $6,906,975.90. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SANM. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research 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.