Mercer Global Advisors Inc. ADV Buys Shares of 6,313 Sanmina Co. (NASDAQ:SANM)

Mercer Global Advisors Inc. ADV bought a new stake in Sanmina Co. (NASDAQ:SANM – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,313 shares of the electronics maker’s stock, valued at approximately $362,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can raised its position in shares of Sanmina by 6.0% in the third quarter. Great West Life Assurance Co. Can now owns 65,481 shares of the electronics maker’s stock valued at $3,017,000 after purchasing an additional 3,725 shares during the period. Teza Capital Management LLC bought a new position in shares of Sanmina in the third quarter valued at approximately $211,000. Cambria Investment Management L.P. raised its position in shares of Sanmina by 1,593.7% in the third quarter. Cambria Investment Management L.P. now owns 137,530 shares of the electronics maker’s stock valued at $6,337,000 after purchasing an additional 129,410 shares during the period. Belpointe Asset Management LLC raised its position in shares of Sanmina by 64.3% in the fourth quarter. Belpointe Asset Management LLC now owns 5,149 shares of the electronics maker’s stock valued at $295,000 after purchasing an additional 2,016 shares during the period. Finally, Waycross Investment Management Co bought a new position in shares of Sanmina in the fourth quarter valued at approximately $1,438,000. 91.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 12th.

Sanmina Trading Up 1.1 %

Shares of SANM stock opened at $51.93 on Wednesday. Sanmina Co. has a 1 year low of $38.36 and a 1 year high of $69.28. The firm’s fifty day simple moving average is $54.91 and its 200 day simple moving average is $59.22. The firm has a market capitalization of $3.03 billion, a P/E ratio of 10.03 and a beta of 1.16. The company has a current ratio of 1.79, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14.

Sanmina declared that its Board of Directors has initiated a share buyback program on Thursday, May 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Sanmina

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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.