Bridgewater Associates LP Has $5.72 Million Stock Position in Sanmina Co. (NASDAQ:SANM)

Bridgewater Associates LP lifted its position in shares of Sanmina Co. (NASDAQ:SANM) by 30.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 75,648 shares of the electronics maker’s stock after purchasing an additional 17,502 shares during the quarter. Bridgewater Associates LP’s holdings in Sanmina were worth $5,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Sanmina by 14.2% in the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock valued at $148,239,000 after buying an additional 243,258 shares during the period. Franklin Resources Inc. raised its position in Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock worth $139,407,000 after purchasing an additional 522,534 shares in the last quarter. Geode Capital Management LLC raised its position in Sanmina by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock worth $116,277,000 after purchasing an additional 21,239 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sanmina by 32.4% during the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker’s stock worth $51,092,000 after purchasing an additional 165,285 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of Sanmina by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 663,923 shares of the electronics maker’s stock valued at $50,239,000 after purchasing an additional 80,574 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Sanmina Trading Down 0.3 %

Shares of SANM opened at $74.92 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 cap of $4.07 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.29 and a beta of 1.00. The stock has a fifty day moving average price of $78.74 and a two-hundred day moving average price of $77.51. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12.

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

Wall Street Analyst Weigh In

SANM has been the subject of several analyst reports. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a research 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.

Insider Activity at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the transaction, the director now owns 65,408 shares in the company, valued at $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock valued at $2,821,682 over the last ninety days. 3.22% of the stock is owned by insiders.

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.