Allspring Global Investments Holdings LLC grew its position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,247 shares of the electronics maker's stock after buying an additional 8,962 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Sanmina worth $8,018,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Sanmina in the third quarter valued at about $32,000. R Squared Ltd acquired a new position in Sanmina in the fourth quarter valued at about $58,000. GAMMA Investing LLC raised its stake in Sanmina by 37.8% in the fourth 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 in the last quarter. CWM LLC raised its stake in Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker's stock valued at $122,000 after purchasing an additional 513 shares in the last quarter. Finally, KBC Group NV raised its stake in Sanmina by 25.5% in the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker's stock valued at $124,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 92.71% of the company's stock.
Insider Activity at Sanmina
In related news, Director Eugene A. Delaney sold 10,000 shares of the company's stock in a transaction that occurred on 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 $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.22% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
SANM has been the subject of several research analyst reports. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Craig Hallum boosted their target price on Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th.
Read Our Latest Research Report on SANM
Sanmina Trading Down 3.2 %
Shares of NASDAQ:SANM traded down $2.84 during midday trading on Friday, hitting $85.72. 433,705 shares of the stock were exchanged, compared to its average volume of 438,971. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.32 and a beta of 0.92. 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 business's 50-day moving average price is $81.96 and its 200 day moving average price is $75.09. 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 stock buyback plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Sanmina Profile
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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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