New Age Alpha Advisors LLC Invests $581,000 in Sanmina Co. (NASDAQ:SANM)

New Age Alpha Advisors LLC purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,681 shares of the electronics maker’s stock, valued at approximately $581,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Sanmina by 5.0% during the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock worth $117,444,000 after buying an additional 82,409 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after acquiring an additional 35,622 shares during the period. Franklin Resources Inc. boosted its position in Sanmina by 6.4% in the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after purchasing an additional 79,565 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Sanmina by 32.4% during the 4th quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker’s stock valued at $51,092,000 after purchasing an additional 165,285 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Sanmina by 13.8% during the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock worth $50,239,000 after purchasing an additional 80,574 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the transaction, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the sale, the director now owns 77,120 shares in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock worth $2,821,682 over the last quarter. Corporate insiders own 3.22% of the company’s stock.

Sanmina Trading Down 0.6 %

Shares of SANM opened at $76.18 on Tuesday. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. The business has a 50-day moving average of $81.85 and a 200 day moving average of $77.12. The firm has a market cap of $4.14 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina announced that its board has authorized a stock repurchase program on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SANM. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note 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.