Cibc World Markets Corp Buys New Shares in Sanmina Co. (NASDAQ:SANM)

Cibc World Markets Corp purchased a new position in Sanmina Co. (NASDAQ:SANM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,026 shares of the electronics maker's stock, valued at approximately $380,000.

Several other large investors have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in Sanmina during the 3rd quarter valued at about $32,000. R Squared Ltd bought a new stake in shares of Sanmina during the fourth quarter valued at approximately $58,000. GAMMA Investing LLC raised its holdings in Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock worth $97,000 after acquiring an additional 352 shares during the last quarter. Principal Securities Inc. lifted its position in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after acquiring an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock valued at $108,000 after purchasing an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SANM. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th.

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Sanmina Stock Performance

SANM stock traded down $0.79 on Thursday, hitting $77.74. The company had a trading volume of 340,878 shares, compared to its average volume of 369,575. 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 Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.29 and a beta of 0.85. The stock's 50-day simple moving average is $82.21 and its 200 day simple moving average is $76.78.

Sanmina declared that its board has authorized a share buyback plan on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase 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

In related news, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the completion of the sale, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene A. Delaney sold 10,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 77,120 shares in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock valued at $2,821,682 over the last 90 days. Company insiders own 3.22% of the company's stock.

About Sanmina

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.