HighTower Advisors LLC Invests $392,000 in Sanmina Co. (NASDAQ:SANM)

HighTower Advisors LLC bought a new position in shares of Sanmina Co. (NASDAQ:SANM) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 5,178 shares of the electronics maker’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SANM. Citigroup Inc. grew its stake in Sanmina by 64.6% during the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock worth $5,061,000 after buying an additional 29,028 shares during the period. Geode Capital Management LLC lifted its stake in shares of Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Barclays PLC boosted its position in shares of Sanmina by 296.3% in the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after buying an additional 69,431 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Sanmina by 255.9% in the third 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. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Sanmina by 6.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock valued at $166,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insider Buying and Selling at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the completion of the sale, the director now owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the firm’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 transaction, the director now directly owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,405 shares of company stock worth $2,821,682 in the last ninety days. 3.22% of the stock is owned by insiders.

Sanmina Stock Performance

Shares of SANM opened at $76.18 on Tuesday. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. 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 has a market cap of $4.14 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.29 and a beta of 0.85. The business’s 50 day moving average is $81.85 and its two-hundred day moving average is $77.12.

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

Analyst Ratings Changes

SANM has been the subject of several recent research reports. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th.

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.