SG Americas Securities LLC boosted its position in shares of Sanmina Co. (NASDAQ:SANM – Free Report) by 36.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,800 shares of the electronics maker’s stock after buying an additional 1,559 shares during the quarter. SG Americas Securities LLC’s holdings in Sanmina were worth $439,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SANM. Nisa Investment Advisors LLC lifted its position in shares of Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 125 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Sanmina by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker’s stock valued at $303,000 after acquiring an additional 129 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after buying an additional 164 shares during the period. TFG Advisers LLC lifted its stake in Sanmina by 5.1% in the third quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker’s stock worth $286,000 after acquiring an additional 203 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in Sanmina by 5.0% in the third quarter. Atomi Financial Group Inc. now owns 4,788 shares of the electronics maker’s stock worth $328,000 after buying an additional 226 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.
Sanmina Trading Down 0.6 %
SANM stock opened at $83.73 on Monday. The firm has a market cap of $4.55 billion, a P/E ratio of 20.47, a PEG ratio of 1.39 and a beta of 0.91. The company’s 50-day simple moving average is $79.47 and its 200-day simple moving average is $73.57. The company has a quick ratio of 1.25, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52-week low of $57.28 and a 52-week high of $86.05.
Sanmina declared that its board has approved a share buyback plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire 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.
Analyst Upgrades and Downgrades
SANM has been the subject of several analyst reports. Craig Hallum increased their price target on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 29th.
View Our Latest Stock Analysis on SANM
Insider Transactions at Sanmina
In other news, Director Eugene A. Delaney sold 10,000 shares of the business’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 transaction, the director now owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. The trade was a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.09% of the company’s stock.
About Sanmina
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.
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