C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $820,000 in Sanmina Co. (NASDAQ:SANM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Sanmina Co. (NASDAQ:SANM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,834 shares of the electronics maker's stock, valued at approximately $820,000.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Sanmina in the third quarter valued at $32,000. R Squared Ltd purchased a new position in shares of Sanmina during the fourth quarter worth about $58,000. GAMMA Investing LLC grew its holdings in shares of Sanmina by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock worth $97,000 after purchasing an additional 352 shares during the last quarter. CWM LLC grew its holdings in shares of Sanmina by 40.5% during the third quarter. CWM LLC now owns 1,781 shares of the electronics maker's stock worth $122,000 after purchasing an additional 513 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Sanmina by 25.5% during the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker's stock worth $124,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Insider Transactions at Sanmina

In related news, Director Eugene A. Delaney sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the sale, the director now owns 77,120 shares in the company, valued at $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.22% of the company's stock.

Sanmina Stock Performance

Shares of SANM traded up $0.30 during mid-day trading on Monday, hitting $89.65. 331,631 shares of the company's stock were exchanged, compared to its average volume of 473,033. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $90.78. The firm has a market capitalization of $4.87 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.28 and a beta of 0.92. The business's 50 day moving average is $81.19 and its two-hundred day moving average is $74.59. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12.

Sanmina announced that its board has initiated a share buyback plan 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 plans are generally an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SANM. Craig Hallum raised their price objective on Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

Sanmina Profile

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.