Connor Clark & Lunn Investment Management Ltd. Buys 2,554 Shares of 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 4th quarter, Holdings Channel.com reports. The fund owned 23,515 shares of the electronics maker’s stock after purchasing an additional 2,554 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sanmina were worth $1,779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. grew its position in Sanmina by 64.6% during the 3rd quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock worth $5,061,000 after acquiring an additional 29,028 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $103,727,000 after acquiring an additional 35,622 shares during the last quarter. Barclays PLC lifted its holdings in Sanmina by 296.3% in the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after buying an additional 69,431 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Sanmina in the 3rd quarter worth approximately $2,224,000. Finally, JPMorgan Chase & Co. lifted its holdings in Sanmina by 255.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after buying an additional 366,653 shares during the period. 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 stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the transaction, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,103 shares of company stock worth $2,798,896 in the last quarter. 3.22% of the stock is owned by company insiders.

Sanmina Trading Up 0.1 %

NASDAQ SANM opened at $76.19 on Wednesday. The stock has a market cap of $4.14 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. 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 stock has a 50 day simple moving average of $82.28 and a two-hundred day simple moving average of $76.33. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12.

Sanmina declared that its board has approved a share buyback plan on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in 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 Sanmina from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

About Sanmina

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.