Fox Run Management L.L.C. bought a new position in Sanmina Co. (NASDAQ:SANM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,606 shares of the electronics maker's stock, valued at approximately $424,000.
Several other hedge funds have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in Sanmina in the 3rd quarter worth about $32,000. R Squared Ltd bought a new stake in shares of Sanmina in the fourth quarter worth approximately $58,000. GAMMA Investing LLC raised 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 valued at $97,000 after purchasing an additional 352 shares during the last quarter. Principal Securities Inc. lifted its position in Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Sanmina by 283.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $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.
Insider Activity at Sanmina
In related news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction dated Friday, February 21st. The stock was 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 owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the sale, the director now directly owns 65,408 shares in the company, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,405 shares of company stock worth $2,821,682. 3.22% of the stock is owned by company insiders.
Sanmina Stock Performance
SANM stock traded down $1.09 during midday trading on Friday, reaching $76.65. 417,693 shares of the company's stock traded hands, compared to its average volume of 385,466. 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 52-week low of $57.52 and a 52-week high of $91.12. The stock has a market cap of $4.16 billion, a P/E ratio of 18.74, a PEG ratio of 1.29 and a beta of 0.85. The stock's 50-day moving average is $81.99 and its 200 day moving average is $76.96.
Sanmina declared that its board has approved a stock repurchase program on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com cut Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th.
Read Our Latest Research Report on Sanmina
Sanmina Company Profile
(
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.
See Also
Before you consider Sanmina, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sanmina wasn't on the list.
While Sanmina currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
