C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,834 shares of the electronics maker's stock, valued at approximately $820,000.
Several other hedge funds have also made changes to their positions in SANM. Empower Advisory Group LLC boosted its holdings in Sanmina by 1.8% in the fourth quarter. Empower Advisory Group LLC now owns 267,063 shares of the electronics maker's stock valued at $20,209,000 after acquiring an additional 4,811 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Sanmina by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 285,846 shares of the electronics maker's stock worth $21,630,000 after acquiring an additional 10,542 shares during the last quarter. Principal Securities Inc. increased its position in shares of Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after acquiring an additional 166 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Sanmina by 9.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker's stock worth $8,018,000 after acquiring an additional 8,962 shares during the last quarter. Finally, TFG Advisers LLC increased its holdings in Sanmina by 4.8% in the fourth 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. Institutional investors and hedge funds own 92.71% of the company's stock.
Sanmina Price Performance
Shares of NASDAQ SANM traded down $2.41 during trading on Friday, hitting $86.15. The company had a trading volume of 243,721 shares, compared to its average volume of 432,745. The company has a market cap of $4.68 billion, a P/E ratio of 21.05, a PEG ratio of 1.32 and a beta of 0.92. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12. The business's 50-day moving average is $81.96 and its 200 day moving average is $75.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.
Sanmina announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
Insider Buying and Selling at Sanmina
In other Sanmina news, Director Eugene A. Delaney sold 11,712 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the transaction, the director now owns 65,408 shares of the company's stock, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.22% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Craig Hallum boosted their price objective on Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. StockNews.com downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th.
Get Our Latest Stock Report on SANM
About Sanmina
(
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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