Point72 Asia Singapore Pte. Ltd. Acquires New Shares in Sanmina Co. (NASDAQ:SANM)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sanmina Co. (NASDAQ:SANM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,185 shares of the electronics maker’s stock, valued at approximately $90,000.

Several other large investors have also bought and sold shares of the business. Kendall Capital Management grew its holdings in shares of Sanmina by 2.0% during the fourth quarter. Kendall Capital Management now owns 6,205 shares of the electronics maker’s stock worth $470,000 after purchasing an additional 120 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Sanmina by 2.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,620 shares of the electronics maker’s stock worth $425,000 after purchasing an additional 121 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 125 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Sanmina by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker’s stock worth $303,000 after purchasing an additional 129 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Sanmina by 3.5% during the fourth quarter. Mariner LLC now owns 4,510 shares of the electronics maker’s stock worth $341,000 after purchasing an additional 152 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.22% of the stock is owned by insiders.

Sanmina Price Performance

Sanmina stock opened at $84.56 on Friday. The stock’s 50 day moving average is $77.35 and its 200 day moving average is $79.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The firm has a market cap of $4.52 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.29 and a beta of 1.10. Sanmina Co. has a one year low of $61.52 and a one year high of $91.12.

Sanmina (NASDAQ:SANM) last posted 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. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. As a group, research analysts expect that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina declared that its Board of Directors has initiated a stock buyback plan on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th.

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.