Assetmark Inc. increased its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 8.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 89,632 shares of the electronics maker's stock after buying an additional 7,190 shares during the quarter. Assetmark Inc. owned about 0.16% of Sanmina worth $6,782,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of SANM. Wilmington Savings Fund Society FSB bought a new stake in shares of Sanmina in the third quarter worth $32,000. R Squared Ltd bought a new stake in shares of Sanmina during the 4th quarter valued at $58,000. GAMMA Investing LLC lifted its stake 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 buying an additional 352 shares in the last quarter. Principal Securities Inc. boosted its holdings in 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 buying an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Sanmina by 283.9% in 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 in the last quarter. Institutional investors own 92.71% of the company's stock.
Sanmina Price Performance
Shares of SANM stock traded down $2.24 during trading hours on Monday, hitting $74.04. The stock had a trading volume of 28,217 shares, compared to its average volume of 423,052. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 1.29 and a beta of 0.85. The stock's 50-day moving average price is $82.44 and its two-hundred day moving average price is $76.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12.
Sanmina announced that its Board of Directors has authorized a share repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
SANM has been the topic of several research analyst reports. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com cut Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.
Get Our Latest Stock Report on SANM
Insider Buying and Selling
In other news, Director Eugene A. Delaney sold 11,712 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the sale, the director now owns 80,295 shares of the company's stock, valued at $6,906,975.90. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,103 shares of company stock valued at $2,798,896. Insiders own 3.22% of the company's stock.
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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