HighTower Advisors LLC Takes $392,000 Position in Sanmina Co. (NASDAQ:SANM)

HighTower Advisors LLC 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 Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,178 shares of the electronics maker's stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SANM. Wilmington Savings Fund Society FSB bought a new position in shares of Sanmina in the 3rd quarter valued at about $32,000. R Squared Ltd bought a new stake in shares of Sanmina in the fourth quarter worth $58,000. GAMMA Investing LLC boosted its stake in shares of Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock worth $97,000 after buying an additional 352 shares during the last quarter. Principal Securities Inc. grew its position in shares of 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 during the period. Finally, Smartleaf Asset Management LLC increased its position in Sanmina by 283.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock worth $108,000 after buying an additional 1,056 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their price objective 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 note on Thursday, February 6th.

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Insider Buying and Selling at Sanmina

In related news, 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 completion of the transaction, the director now directly owns 65,408 shares in the company, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the sale, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 33,405 shares of company stock worth $2,821,682. Insiders own 3.22% of the company's stock.

Sanmina Stock Down 10.8 %

Shares of SANM traded down $8.35 on Thursday, reaching $69.16. The company's stock had a trading volume of 495,739 shares, compared to its average volume of 386,574. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $91.12. The stock has a market capitalization of $3.76 billion, a PE ratio of 16.91, a PEG ratio of 1.29 and a beta of 0.85. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average of $81.57 and a 200-day moving average of $77.19.

Sanmina announced that its Board of Directors has authorized a share buyback program on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board 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.