Connor Clark & Lunn Investment Management Ltd. Raises Stake in Sanmina Co. (NASDAQ:SANM)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Sanmina Co. (NASDAQ:SANM) by 12.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,515 shares of the electronics maker’s stock after purchasing an additional 2,554 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sanmina were worth $1,779,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SANM. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina during the 3rd quarter worth about $32,000. R Squared Ltd purchased a new stake in Sanmina during the 4th quarter worth about $58,000. GAMMA Investing LLC increased its stake in Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after acquiring an additional 352 shares during the last quarter. Principal Securities Inc. increased its stake in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after acquiring an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after acquiring an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Price Performance

Shares of Sanmina stock opened at $76.19 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $4.14 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business’s 50-day moving average price is $82.28 and its 200-day moving average price is $76.33. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12.

Sanmina declared that its board has initiated a stock repurchase program 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 programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the transaction, the director now directly owns 65,408 shares in the company, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mario M. Rosati sold 11,391 shares of the 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 transaction, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,103 shares of company stock worth $2,798,896. 3.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SANM shares. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.