ExodusPoint Capital Management LP Invests $234,000 in Sanmina Co. (NASDAQ:SANM)

ExodusPoint Capital Management LP acquired a new position in Sanmina Co. (NASDAQ:SANM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,093 shares of the electronics maker’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SANM. Quantinno Capital Management LP increased its stake in shares of Sanmina by 11.0% in the third quarter. Quantinno Capital Management LP now owns 3,649 shares of the electronics maker’s stock worth $250,000 after purchasing an additional 362 shares in the last quarter. Barclays PLC grew its stake in Sanmina by 296.3% in the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock valued at $6,358,000 after buying an additional 69,431 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sanmina by 2.4% during 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 period. Virtu Financial LLC bought a new position in shares of Sanmina in the third quarter worth $311,000. Finally, World Investment Advisors LLC purchased a new position in shares of Sanmina in the third quarter valued at $1,457,000. 92.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sanmina

In other Sanmina news, 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction 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 sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,405 shares of company stock valued at $2,821,682 in the last 90 days. Corporate insiders own 3.22% of the company’s stock.

Sanmina Trading Up 1.8 %

Shares of SANM stock opened at $75.95 on Monday. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The business’s fifty day moving average is $79.70 and its 200 day moving average is $77.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The company has a market capitalization of $4.13 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

SANM has been the subject of several analyst reports. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

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.