Fox Run Management L.L.C. Takes $424,000 Position in Sanmina Co. (NASDAQ:SANM)

Fox Run Management L.L.C. purchased a new position in shares of Sanmina Co. (NASDAQ:SANM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,606 shares of the electronics maker’s stock, valued at approximately $424,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in Sanmina by 5.0% in the 3rd quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock valued at $117,444,000 after acquiring an additional 82,409 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Sanmina by 6.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after acquiring an additional 79,565 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Sanmina by 13.8% in the fourth 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sanmina by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,067 shares of the electronics maker’s stock valued at $46,164,000 after buying an additional 3,330 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Price Performance

SANM stock opened at $78.58 on Wednesday. The firm has a 50 day moving average of $82.30 and a 200-day moving average of $76.76. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12.

Sanmina announced that its Board of Directors has initiated a share repurchase program on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

SANM has been the topic of a number of research reports. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America upgraded shares of 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 research note on Wednesday, January 29th.

Insider Activity

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction that occurred on 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 directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the transaction, the director now directly owns 77,120 shares in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,405 shares of company stock worth $2,821,682 over the last 90 days. 3.22% of the stock is currently owned by corporate insiders.

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.