EMC Capital Management Reduces Stock Position in Sanmina Co. (NASDAQ:SANM)

EMC Capital Management reduced its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 37.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,420 shares of the electronics maker’s stock after selling 5,580 shares during the period. Sanmina accounts for 0.4% of EMC Capital Management’s portfolio, making the stock its 18th biggest position. EMC Capital Management’s holdings in Sanmina were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC increased its holdings in Sanmina by 5.0% in the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock valued at $117,444,000 after buying an additional 82,409 shares during the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 35,622 shares during the last quarter. Franklin Resources Inc. lifted its stake in Sanmina by 6.4% during the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after purchasing an additional 79,565 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after purchasing an additional 149,600 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after purchasing an additional 366,653 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Stock Performance

SANM stock opened at $83.75 on Thursday. The stock’s fifty day moving average is $79.19 and its two-hundred day moving average is $73.34. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.99. Sanmina Co. has a 1 year low of $57.28 and a 1 year high of $86.05.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $1.20 EPS. Sanmina’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Sanmina Co. will post 4.84 EPS for the current year.

Sanmina announced that its Board of Directors has authorized a share repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

SANM has been the topic of a number of research reports. Craig Hallum increased their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $58.00 to $92.00 in a research note on Wednesday.

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.