Sage Rhino Capital LLC Purchases Shares of 2,824 Sanmina Co. (NASDAQ:SANM)

Sage Rhino Capital LLC acquired a new stake in shares of Sanmina Co. (NASDAQ:SANM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,824 shares of the electronics maker’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after buying an additional 1,056 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Sanmina in the 4th quarter valued at $1,592,000. Oppenheimer Asset Management Inc. lifted its stake in Sanmina by 2.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 35,573 shares of the electronics maker’s stock worth $2,692,000 after purchasing an additional 929 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Sanmina by 30.4% during the 4th quarter. Navellier & Associates Inc. now owns 5,326 shares of the electronics maker’s stock valued at $403,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Sanmina by 13.8% during 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 in the last quarter. 92.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the sale, the director now owns 77,120 shares of the company’s stock, valued at $6,439,520. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,103 shares of company stock valued at $2,798,896. 3.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, Craig Hallum increased their price target on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, November 5th.

Sanmina Price Performance

SANM opened at $76.39 on Tuesday. The business has a fifty day moving average of $82.57 and a 200 day moving average of $75.89. The stock has a market cap of $4.15 billion, a P/E ratio of 18.68, a PEG ratio of 1.29 and a beta of 0.92. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12.

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

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.