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

Allspring Global Investments Holdings LLC boosted its stake in shares of Sanmina Co. (NASDAQ:SANM) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,247 shares of the electronics maker’s stock after buying an additional 8,962 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.20% of Sanmina worth $8,018,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. TFG Advisers LLC boosted its stake in Sanmina by 4.8% in the fourth quarter. TFG Advisers LLC now owns 4,381 shares of the electronics maker’s stock valued at $332,000 after acquiring an additional 202 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Sanmina by 23.3% in the fourth quarter. Hantz Financial Services Inc. now owns 30,437 shares of the electronics maker’s stock valued at $2,303,000 after purchasing an additional 5,751 shares during the last quarter. R Squared Ltd bought a new position in Sanmina during the fourth quarter valued at $58,000. KBC Group NV increased its position in Sanmina by 25.6% in the fourth quarter. KBC Group NV now owns 2,274 shares of the electronics maker’s stock worth $172,000 after buying an additional 463 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Sanmina by 14.0% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,122 shares of the electronics maker’s stock valued at $917,000 after buying an additional 1,485 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Trading Up 0.5 %

SANM opened at $90.14 on Wednesday. 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 business has a 50 day moving average of $81.39 and a 200-day moving average of $74.71. The stock has a market cap of $4.90 billion, a PE ratio of 22.04, a PEG ratio of 1.28 and a beta of 0.92. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $90.78.

Sanmina announced that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares of the company’s stock, valued at $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SANM has been the subject of a number of research reports. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and increased their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. Finally, Craig Hallum lifted their price target on Sanmina from $62.00 to $69.00 and gave the stock 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.