KLP Kapitalforvaltning AS Makes New Investment in Sanmina Co. (NASDAQ:SANM)

KLP Kapitalforvaltning AS purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 11,300 shares of the electronics maker's stock, valued at approximately $855,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SANM. Wilmington Savings Fund Society FSB bought a new position in Sanmina in the 3rd quarter worth about $32,000. R Squared Ltd bought a new stake in shares of Sanmina during the 4th quarter valued at 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 in the last quarter. Principal Securities Inc. increased its position in shares of Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after purchasing an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Sanmina by 283.9% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Sanmina Price Performance

SANM traded down $1.86 during midday trading on Friday, hitting $67.30. The stock had a trading volume of 732,342 shares, compared to its average volume of 388,803. The company has a market cap of $3.66 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12. The business has a fifty day moving average of $80.94 and a 200 day moving average of $77.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Remove Ads

Sanmina announced that its board has authorized a share repurchase plan on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Activity

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the sale, the director now directly owns 77,120 shares in the company, valued at $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the transaction, the director now directly owns 80,295 shares in the company, valued at $6,906,975.90. This trade represents 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 valued at $2,821,682. Corporate insiders own 3.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SANM shares. StockNews.com lowered shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Bank of America raised Sanmina from an "underperform" rating to a "neutral" rating and increased their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

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.