Commonwealth Equity Services LLC Has $865,000 Holdings in Sanmina Co. (NASDAQ:SANM)

Commonwealth Equity Services LLC boosted its stake in Sanmina Co. (NASDAQ:SANM) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,429 shares of the electronics maker’s stock after purchasing an additional 204 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Sanmina were worth $865,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Sanmina in the 3rd quarter valued at about $32,000. R Squared Ltd acquired a new position in Sanmina during the fourth quarter valued at approximately $58,000. GAMMA Investing LLC increased its stake in Sanmina by 37.8% in the fourth 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 in the last quarter. Principal Securities Inc. raised its holdings in Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Sanmina by 283.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after purchasing an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SANM shares. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Trading Down 0.2 %

SANM opened at $76.04 on Wednesday. The stock has a market capitalization of $4.13 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $91.12. The firm’s fifty day simple moving average is $81.69 and its 200 day simple moving average is $77.18.

Sanmina declared that its board has approved a share 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Eugene A. Delaney sold 11,712 shares of Sanmina stock in a transaction that occurred 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 sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the transaction, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,405 shares of company stock worth $2,821,682 over the last three months. Corporate insiders own 3.22% of the company’s stock.

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.