Sage Rhino Capital LLC Takes Position in Sanmina Co. (NASDAQ:SANM)

Sage Rhino Capital LLC purchased a new position in Sanmina Co. (NASDAQ:SANM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,824 shares of the electronics maker’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citigroup Inc. grew its stake in Sanmina by 64.6% in the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock valued at $5,061,000 after purchasing an additional 29,028 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after buying an additional 35,622 shares in the last quarter. Barclays PLC grew its position in shares of Sanmina by 296.3% in the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after buying an additional 69,431 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Sanmina during the 3rd quarter worth approximately $2,224,000. Finally, JPMorgan Chase & Co. lifted its position in Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after acquiring an additional 366,653 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SANM has been the subject of several recent analyst reports. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Craig Hallum upped their target price on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th.

Sanmina Stock Down 6.8 %

NASDAQ:SANM opened at $76.39 on Tuesday. The company’s 50 day moving average is $82.57 and its two-hundred day moving average is $75.89. The company has a market cap of $4.15 billion, a PE ratio of 18.68, a P/E/G ratio of 1.29 and a beta of 0.92. Sanmina Co. has a twelve month low of $57.52 and a twelve 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 approved a stock repurchase plan on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the sale, the director now owns 77,120 shares of the company’s stock, 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 can be accessed through this link. Also, Director Mario M. Rosati sold 11,391 shares of the business’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 sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 33,103 shares of company stock valued at $2,798,896 over the last ninety days. 3.22% of the stock is currently owned by insiders.

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.