Allspring Global Investments Holdings LLC Purchases 8,962 Shares of Sanmina Co. (NASDAQ:SANM)

Allspring Global Investments Holdings LLC increased its holdings in Sanmina Co. (NASDAQ:SANM) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,247 shares of the electronics maker’s stock after purchasing an additional 8,962 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sanmina were worth $8,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Sanmina in the third quarter worth $32,000. R Squared Ltd bought a new stake in Sanmina in the 4th quarter valued at $58,000. GAMMA Investing LLC boosted its holdings in shares of Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock valued at $97,000 after purchasing an additional 352 shares during the last quarter. CWM LLC grew its position in shares of Sanmina by 40.5% during the third 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. Finally, KBC Group NV lifted its position in shares of Sanmina by 25.5% in the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after buying an additional 368 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sanmina news, Director Eugene A. Delaney sold 11,712 shares of Sanmina 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 of the company’s stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Craig Hallum boosted their price objective on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

Sanmina Stock Up 0.5 %

Shares of Sanmina stock opened at $90.14 on Wednesday. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $90.78. The company has a market cap of $4.90 billion, a P/E ratio of 22.04, a PEG ratio of 1.28 and a beta of 0.92. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average price is $81.39 and its 200-day moving average price is $74.71.

Sanmina declared that its Board of Directors has authorized a stock buyback program on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.