XTX Topco Ltd Takes Position in Sanmina Co. (NASDAQ:SANM)

XTX Topco Ltd bought a new stake in Sanmina Co. (NASDAQ:SANM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 11,746 shares of the electronics maker's stock, valued at approximately $889,000.

Several other hedge funds have also modified their holdings of SANM. Wilmington Savings Fund Society FSB bought a new position in shares of Sanmina during the 3rd quarter worth approximately $32,000. R Squared Ltd acquired a new position in shares of Sanmina during the fourth quarter worth $58,000. GAMMA Investing LLC lifted its holdings in shares of Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock valued at $97,000 after purchasing an additional 352 shares during the last quarter. Principal Securities Inc. boosted its position in shares of 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 purchasing an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $108,000 after buying an additional 1,056 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the sale, the director now directly owns 77,120 shares in the company, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,405 shares of company stock worth $2,821,682. 3.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SANM. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and boosted their price target 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 note on Thursday, February 6th.

Sanmina Stock Performance

Shares of SANM stock traded down $0.26 during mid-day trading on Friday, reaching $74.92. The stock had a trading volume of 357,996 shares, compared to its average volume of 394,337. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.29 and a beta of 1.00. 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 business's fifty day moving average is $78.45 and its 200-day moving average is $77.64.

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

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.