Janney Montgomery Scott LLC Boosts Stake in Sanmina Co. (NASDAQ:SANM)

Janney Montgomery Scott LLC grew its stake in shares of Sanmina Co. (NASDAQ:SANM) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,501 shares of the electronics maker’s stock after buying an additional 185 shares during the period. Janney Montgomery Scott LLC’s holdings in Sanmina were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SANM. GAMMA Investing LLC boosted its stake in shares of Sanmina by 88.5% during the third quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock valued at $64,000 after acquiring an additional 437 shares during the last quarter. CWM LLC lifted its holdings in Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after purchasing an additional 513 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Sanmina by 3.7% during the 3rd quarter. Ritholtz Wealth Management now owns 9,150 shares of the electronics maker’s stock worth $626,000 after purchasing an additional 323 shares during the last quarter. Creative Planning grew its holdings in shares of Sanmina by 13.2% during the third quarter. Creative Planning now owns 23,836 shares of the electronics maker’s stock worth $1,632,000 after buying an additional 2,772 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Sanmina in the third quarter valued at approximately $207,000. 92.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was 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 in the company, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.22% of the company’s stock.

Sanmina Stock Performance

Shares of SANM stock opened at $89.10 on Tuesday. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. The company has a 50 day moving average price of $80.22 and a 200 day moving average price of $74.07. Sanmina Co. has a one year low of $57.52 and a one year high of $90.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina announced that its board has initiated a stock repurchase program on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SANM. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Craig Hallum upped their target price on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

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.