Hantz Financial Services Inc. raised its holdings in Sanmina Co. (NASDAQ:SANM – Free Report) by 23.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,437 shares of the electronics maker’s stock after purchasing an additional 5,751 shares during the period. Hantz Financial Services Inc. owned 0.06% of Sanmina worth $2,303,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina in the 3rd quarter valued at approximately $32,000. R Squared Ltd purchased a new stake in shares of Sanmina in the fourth quarter valued at $58,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. GAMMA Investing LLC increased its position in Sanmina by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock worth $64,000 after purchasing an additional 437 shares in the last quarter. Finally, CWM LLC raised its stake 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 during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.
Sanmina Price Performance
SANM opened at $84.21 on Friday. Sanmina Co. has a 1 year low of $57.28 and a 1 year high of $86.05. The company’s 50 day simple moving average is $79.29 and its 200 day simple moving average is $73.41. The stock has a market capitalization of $4.54 billion, a PE ratio of 21.54, a P/E/G ratio of 1.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.99.
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.
Analyst Ratings Changes
Several research firms have issued reports on SANM. Craig Hallum raised their price target 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. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday. Finally, StockNews.com upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a report on Wednesday.
View Our Latest Stock Analysis on SANM
Sanmina 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.
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