Mercer Global Advisors Inc. ADV Raises Stake in Sanmina Co. (NASDAQ:SANM)

Mercer Global Advisors Inc. ADV raised its stake in shares of Sanmina Co. (NASDAQ:SANM) by 32.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,985 shares of the electronics maker’s stock after buying an additional 1,458 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Sanmina were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SANM. Comerica Bank grew its stake in Sanmina by 35.3% during the fourth quarter. Comerica Bank now owns 82,257 shares of the electronics maker’s stock valued at $6,224,000 after acquiring an additional 21,478 shares in the last quarter. Lido Advisors LLC boosted its holdings in Sanmina by 44.3% in the 4th quarter. Lido Advisors LLC now owns 5,024 shares of the electronics maker’s stock valued at $380,000 after purchasing an additional 1,542 shares during the period. Northern Trust Corp grew its position in shares of Sanmina by 8.1% during the 4th quarter. Northern Trust Corp now owns 799,430 shares of the electronics maker’s stock valued at $60,493,000 after purchasing an additional 59,878 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Sanmina by 1.8% in the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker’s stock worth $81,256,000 after purchasing an additional 19,144 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of Sanmina by 4.0% in the fourth quarter. Stifel Financial Corp now owns 11,261 shares of the electronics maker’s stock worth $852,000 after purchasing an additional 431 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SANM shares. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th.

Insiders Place Their Bets

In related news, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the sale, the director now directly owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This trade represents a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.22% of the company’s stock.

Sanmina Stock Performance

NASDAQ SANM opened at $85.27 on Wednesday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.29 and a beta of 1.10. The company has a 50-day simple moving average of $76.78 and a two-hundred day simple moving average of $79.11. 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 12-month low of $61.52 and a 12-month high of $91.12.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the business posted $1.30 EPS. Sanmina’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina declared that its Board of Directors has approved a share 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 buy 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.

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.