2,751 Shares in Sanmina Co. (NASDAQ:SANM) Bought by First Bank & Trust

First Bank & Trust purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,751 shares of the electronics maker’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Sanmina during the 4th quarter worth about $820,000. Empower Advisory Group LLC raised its stake in shares of Sanmina by 1.8% during the 4th quarter. Empower Advisory Group LLC now owns 267,063 shares of the electronics maker’s stock worth $20,209,000 after buying an additional 4,811 shares during the period. Principal Financial Group Inc. lifted its holdings in Sanmina by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 285,846 shares of the electronics maker’s stock valued at $21,630,000 after purchasing an additional 10,542 shares in the last quarter. Principal Securities Inc. boosted its holdings in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after buying an additional 166 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Sanmina by 9.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker’s stock worth $8,018,000 after acquiring an additional 8,962 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Insider Buying and Selling at Sanmina

In related news, Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.22% of the company’s stock.

Sanmina Stock Down 2.2 %

SANM stock opened at $88.56 on Friday. The firm has a market cap of $4.81 billion, a PE ratio of 21.65, a PEG ratio of 1.31 and a beta of 0.92. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The firm’s 50 day moving average price is $81.81 and its 200-day moving average price is $75.00.

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

Analyst Ratings Changes

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