Empower Advisory Group LLC Raises Position in Sanmina Co. (NASDAQ:SANM)

Empower Advisory Group LLC boosted its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,063 shares of the electronics maker's stock after buying an additional 4,811 shares during the period. Empower Advisory Group LLC owned approximately 0.49% of Sanmina worth $20,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its position in shares of 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. Creative Planning grew its holdings in Sanmina by 13.2% during the 3rd quarter. Creative Planning now owns 23,836 shares of the electronics maker's stock valued at $1,632,000 after buying an additional 2,772 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in Sanmina during the 3rd quarter valued at about $207,000. TFG Advisers LLC increased its position in shares of Sanmina by 5.1% during the third quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker's stock valued at $286,000 after buying an additional 203 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in shares of Sanmina in the third quarter worth about $205,000. Institutional investors own 92.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on SANM shares. Craig Hallum boosted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th.

Insider Activity

In related news, Director Eugene A. Delaney sold 11,712 shares of the 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 $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.22% of the company's stock.

Sanmina Price Performance

Shares of SANM stock traded down $2.84 during trading on Friday, hitting $85.72. The company had a trading volume of 433,714 shares, compared to its average volume of 438,971. The stock's 50-day moving average is $81.96 and its two-hundred day moving average is $75.09. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12.

Sanmina declared that its Board of Directors has authorized a share buyback 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 often an indication that the company's management believes its stock is undervalued.

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.