Allspring Global Investments Holdings LLC lifted its position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,247 shares of the electronics maker's stock after purchasing an additional 8,962 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.20% of Sanmina worth $8,018,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock worth $166,000 after purchasing an additional 125 shares during the period. Park Avenue Securities LLC raised its position in Sanmina by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker's stock valued at $303,000 after buying an additional 129 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Sanmina by 3.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker's stock valued at $416,000 after buying an additional 185 shares during the last quarter. TFG Advisers LLC raised its position in Sanmina by 4.8% in the 4th quarter. TFG Advisers LLC now owns 4,381 shares of the electronics maker's stock valued at $332,000 after buying an additional 202 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in Sanmina by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 5,028 shares of the electronics maker's stock valued at $380,000 after buying an additional 240 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Sanmina
In other Sanmina news, Director Eugene A. Delaney sold 11,712 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 65,408 shares in the company, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.22% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms recently commented on SANM. StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and increased their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. Finally, Craig Hallum raised 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.
Get Our Latest Report on SANM
Sanmina Stock Performance
Shares of SANM stock traded down $2.84 on Friday, hitting $85.72. 433,705 shares of the stock were exchanged, compared to its average volume of 438,971. 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 $4.66 billion, a PE ratio of 20.96, a P/E/G ratio of 1.32 and a beta of 0.92. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12. The firm's 50 day moving average is $81.96 and its two-hundred day moving average is $75.09.
Sanmina declared that its Board of Directors has approved a stock repurchase program on Monday, January 27th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
About Sanmina
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Free Report)
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.
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