Janney Montgomery Scott LLC Increases Stock Position in Sanmina Co. (NASDAQ:SANM)

Janney Montgomery Scott LLC grew its position in shares of Sanmina Co. (NASDAQ:SANM) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,501 shares of the electronics maker’s stock after purchasing an additional 185 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sanmina were worth $416,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 during the period. CWM LLC raised its holdings in shares of Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after buying an additional 513 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of Sanmina by 3.7% during the third quarter. Ritholtz Wealth Management now owns 9,150 shares of the electronics maker’s stock worth $626,000 after buying an additional 323 shares during the period. Creative Planning grew its holdings in shares of Sanmina by 13.2% during the third quarter. Creative Planning now owns 23,836 shares of the electronics maker’s stock worth $1,632,000 after buying an additional 2,772 shares during the last quarter. Finally, Foundations Investment Advisors LLC acquired a new position in Sanmina in the 3rd quarter valued at about $207,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Trading Up 3.2 %

NASDAQ:SANM opened at $89.10 on Tuesday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.28 and a beta of 0.92. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $90.78. The stock has a fifty day moving average price of $80.22 and a two-hundred day moving average price of $74.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina announced that its Board of Directors has approved a share buyback plan on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the sale, the director now owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

About Sanmina

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.