Allianz Asset Management GmbH Has $50.24 Million Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Allianz Asset Management GmbH raised its holdings in Sanmina Co. (NASDAQ:SANM) by 13.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 663,923 shares of the electronics maker’s stock after acquiring an additional 80,574 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.22% of Sanmina worth $50,239,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of 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 acquiring an additional 366,653 shares during the period. Weiss Asset Management LP raised its holdings in Sanmina by 590.7% during the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after purchasing an additional 325,974 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Sanmina by 19.4% in the 3rd 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 period. Assenagon Asset Management S.A. lifted its position in shares of Sanmina by 88.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock worth $20,040,000 after purchasing an additional 124,190 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Sanmina by 36.7% in the 3rd quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock valued at $27,524,000 after purchasing an additional 107,906 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.

Sanmina Stock Down 3.2 %

Shares of NASDAQ SANM opened at $85.72 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4.66 billion, a PE ratio of 20.96, a P/E/G ratio of 1.29 and a beta of 0.92. The company’s fifty day simple moving average is $82.08 and its 200 day simple moving average is $75.23. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12.

Sanmina announced that its Board of Directors has approved a share buyback plan on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Sanmina news, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.22% of the company’s stock.

Analysts Set New Price Targets

SANM has been the topic of several recent analyst reports. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Craig Hallum upped their target price on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th.

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.