Proficio Capital Partners LLC Makes New $1.59 Million Investment in Sanmina Co. (NASDAQ:SANM)

Proficio Capital Partners LLC bought a new position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,036 shares of the electronics maker's stock, valued at approximately $1,592,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Sanmina during the third quarter worth about $32,000. R Squared Ltd acquired a new position in Sanmina during the fourth quarter worth 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 buying an additional 352 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after buying an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Sanmina Trading Down 0.0 %

Sanmina stock traded down $0.01 during trading on Friday, reaching $78.31. The company had a trading volume of 769,671 shares, compared to its average volume of 368,859. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The stock's 50 day moving average price is $82.34 and its two-hundred day moving average price is $76.49. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

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

Insider Activity at Sanmina

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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene A. Delaney sold 11,712 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares of the company's stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,405 shares of company stock worth $2,821,682. 3.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SANM. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

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.