Principal Securities Inc. Grows Position in Sanmina Co. (NASDAQ:SANM)

Principal Securities Inc. grew its stake in shares of Sanmina Co. (NASDAQ:SANM) by 13.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,388 shares of the electronics maker’s stock after purchasing an additional 166 shares during the period. Principal Securities Inc.’s holdings in Sanmina were worth $105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the third quarter valued at about $32,000. R Squared Ltd acquired a new position in Sanmina during the fourth quarter worth about $58,000. GAMMA Investing LLC increased its holdings 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 buying an additional 352 shares in the last quarter. KBC Group NV lifted its position in shares of Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after acquiring an additional 368 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Sanmina by 16.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock worth $146,000 after acquiring an additional 299 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SANM has been the subject of several research reports. Craig Hallum lifted their price objective on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th.

Sanmina Trading Down 1.3 %

Shares of Sanmina stock opened at $83.79 on Wednesday. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12. 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 business has a 50 day moving average price of $82.17 and a 200 day moving average price of $75.45. The company has a market capitalization of $4.55 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.29 and a beta of 0.92.

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

Insider Transactions at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction dated Friday, February 21st. The stock was 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 in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eugene A. Delaney sold 11,712 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were 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 of the company’s stock, valued at $5,495,580.16. The trade was a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,103 shares of company stock valued at $2,798,896 over the last three months. 3.22% of the stock is currently owned by insiders.

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.