Raymond James Financial Inc. Buys New Position in Sanmina Co. (NASDAQ:SANM)

Raymond James Financial Inc. acquired a new stake in Sanmina Co. (NASDAQ:SANM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,947 shares of the electronics maker's stock, valued at approximately $2,644,000. Raymond James Financial Inc. owned about 0.06% of Sanmina as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SANM. Wilmington Savings Fund Society FSB acquired a new position in shares of Sanmina in the 3rd quarter valued at $32,000. R Squared Ltd acquired a new position in Sanmina in the fourth quarter valued at about $58,000. GAMMA Investing LLC boosted its stake in 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 during the period. Principal Securities Inc. boosted its stake in 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 during the period. Finally, Smartleaf Asset Management LLC increased its position 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 valued at $108,000 after acquiring an additional 1,056 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the company's 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 sale, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the transaction, the director now owns 77,120 shares of the company's stock, valued at $6,439,520. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,405 shares of company stock valued at $2,821,682 in the last 90 days. Company insiders own 3.22% of the company's stock.

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Sanmina Stock Up 1.9 %

Shares of NASDAQ SANM traded up $1.47 during midday trading on Wednesday, hitting $77.51. The company's stock had a trading volume of 337,513 shares, compared to its average volume of 386,139. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business's fifty day simple moving average is $81.57 and its two-hundred day simple moving average is $77.19. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12.

Sanmina declared that its board has approved a stock repurchase plan on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th.

Sanmina Company 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.