Royce & Associates LP Acquires 12,795 Shares of Sanmina Co. (NASDAQ:SANM)

Royce & Associates LP lifted its position in Sanmina Co. (NASDAQ:SANM) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 414,893 shares of the electronics maker’s stock after purchasing an additional 12,795 shares during the period. Royce & Associates LP owned about 0.76% of Sanmina worth $31,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SANM. JPMorgan Chase & Co. grew its stake in Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after acquiring an additional 366,653 shares in the last quarter. Weiss Asset Management LP grew its stake in shares of Sanmina by 590.7% in the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after buying an additional 325,974 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Sanmina by 19.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after buying an additional 149,600 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Sanmina by 88.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock worth $20,040,000 after acquiring an additional 124,190 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Sanmina by 5.0% in the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock worth $117,444,000 after acquiring an additional 82,409 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Trading Up 3.1 %

NASDAQ SANM opened at $75.63 on Friday. 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 company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company’s 50-day simple moving average is $82.32 and its two-hundred day simple moving average is $76.18. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12.

Sanmina declared that its Board of Directors has initiated a share repurchase program on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the transaction, the director now owns 65,408 shares of the company’s stock, valued at $5,495,580.16. The trade was a 15.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $979,853.82. Following the completion of the transaction, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,103 shares of company stock valued at $2,798,896 in the last 90 days. Insiders own 3.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America upgraded shares of 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 report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

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.