Allspring Global Investments Holdings LLC Raises Holdings in Sanmina Co. (NASDAQ:SANM)

Allspring Global Investments Holdings LLC increased its stake in Sanmina Co. (NASDAQ:SANM) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,247 shares of the electronics maker’s stock after acquiring 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.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after buying an additional 366,653 shares in the last quarter. Weiss Asset Management LP raised its stake in shares of Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after acquiring an additional 325,974 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after purchasing an additional 149,600 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Sanmina by 88.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock valued at $20,040,000 after acquiring an additional 124,190 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in Sanmina by 36.7% in the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after purchasing an additional 107,906 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 65,408 shares in the company, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.22% of the stock is owned by company insiders.

Sanmina Trading Up 0.5 %

Shares of SANM stock opened at $90.14 on Wednesday. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $90.78. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.28 and a beta of 0.92. 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 stock has a 50 day simple moving average of $81.39 and a 200-day simple moving average of $74.71.

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