Asset Management One Co. Ltd. bought a new stake in shares of Sanmina Co. (NASDAQ:SANM – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,064 shares of the electronics maker’s stock, valued at approximately $858,000.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Sanmina by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,977,940 shares of the electronics maker’s stock valued at $282,048,000 after acquiring an additional 40,223 shares during the period. Dimensional Fund Advisors LP increased its stake in Sanmina by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,749,730 shares of the electronics maker’s stock worth $272,113,000 after buying an additional 74,479 shares in the last quarter. State Street Corp raised its holdings in shares of Sanmina by 2.7% during the first quarter. State Street Corp now owns 2,558,148 shares of the electronics maker’s stock valued at $103,400,000 after acquiring an additional 67,685 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sanmina by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,231,960 shares of the electronics maker’s stock worth $70,578,000 after acquiring an additional 15,660 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Sanmina by 53.9% during the fourth quarter. Morgan Stanley now owns 1,090,322 shares of the electronics maker’s stock worth $62,465,000 after purchasing an additional 381,997 shares in the last quarter. 93.55% of the stock is currently owned by institutional investors and hedge funds.
Sanmina Trading Down 0.2 %
Shares of Sanmina stock opened at $60.57 on Tuesday. Sanmina Co. has a fifty-two week low of $41.47 and a fifty-two week high of $69.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.79. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.69 and a beta of 1.18. The stock has a 50 day moving average of $56.36 and a 200 day moving average of $57.71.
Sanmina declared that its board has approved a stock repurchase program on Thursday, May 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the electronics maker to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Friday, May 12th.
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.
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