Allianz Asset Management GmbH Buys 80,574 Shares of Sanmina Co. (NASDAQ:SANM)

Allianz Asset Management GmbH raised its stake in Sanmina Co. (NASDAQ:SANM) by 13.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 663,923 shares of the electronics maker’s stock after buying an additional 80,574 shares during the quarter. Allianz Asset Management GmbH’s holdings in Sanmina were worth $50,239,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SANM. Wilmington Savings Fund Society FSB bought a new position in shares of Sanmina during the third quarter valued at about $32,000. R Squared Ltd bought a new position in shares of Sanmina during the 4th quarter worth approximately $58,000. GAMMA Investing LLC boosted its stake in shares of Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after buying an additional 352 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Sanmina by 13.6% in 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 last quarter. Finally, CWM LLC grew its holdings in shares of Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after acquiring an additional 513 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Insider Activity

In related news, Director Eugene A. Delaney sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 77,120 shares in the company, valued at approximately $6,439,520. The trade was a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.22% of the company’s stock.

Sanmina Price Performance

Sanmina stock opened at $85.72 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $82.08 and its 200 day simple moving average is $75.23. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.29 and a beta of 0.92.

Sanmina announced that its board has initiated a stock repurchase 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 buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SANM. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. Finally, Craig Hallum increased their price target on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th.

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.