EP Wealth Advisors LLC Purchases New Shares in Sanmina Co. (NASDAQ:SANM)

EP Wealth Advisors LLC purchased a new stake in Sanmina Co. (NASDAQ:SANM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,300 shares of the electronics maker’s stock, valued at approximately $250,000.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC raised its holdings in shares of Sanmina by 14.2% in the fourth 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 last quarter. Franklin Resources Inc. increased 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 during the period. Geode Capital Management LLC increased 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 during the period. Earnest Partners LLC increased its position in Sanmina by 1.8% in the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker’s stock worth $81,256,000 after purchasing an additional 19,144 shares during the period. Finally, Northern Trust Corp increased its position in Sanmina by 8.1% in the fourth quarter. Northern Trust Corp now owns 799,430 shares of the electronics maker’s stock worth $60,493,000 after purchasing an additional 59,878 shares during the period. 92.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th.

Insider Transactions at Sanmina

In other news, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.22% of the company’s stock.

Sanmina Price Performance

Shares of SANM stock opened at $85.27 on Wednesday. The stock has a 50-day moving average price of $76.78 and a 200 day moving average price of $79.11. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.29 and a beta of 1.10. Sanmina Co. has a 12 month low of $61.52 and a 12 month high of $91.12.

Sanmina (NASDAQ:SANM) last announced 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 firm had revenue of $1.98 billion during 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 company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. Research analysts expect that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina declared that its board has initiated a stock buyback program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.