Cibc World Markets Corp Takes Position in Sanmina Co. (NASDAQ:SANM)

Cibc World Markets Corp purchased a new position in Sanmina Co. (NASDAQ:SANM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,026 shares of the electronics maker’s stock, valued at approximately $380,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kendall Capital Management lifted its holdings in shares of Sanmina by 2.0% during the 4th quarter. Kendall Capital Management now owns 6,205 shares of the electronics maker’s stock worth $470,000 after acquiring an additional 120 shares during the period. Nisa Investment Advisors LLC raised its stake in Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 125 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Sanmina by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker’s stock valued at $303,000 after purchasing an additional 129 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after buying an additional 166 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Sanmina by 3.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker’s stock worth $416,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Performance

NASDAQ:SANM opened at $78.31 on Monday. The firm’s fifty day simple moving average is $82.34 and its 200 day simple moving average is $76.56. 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 twelve month low of $57.52 and a twelve month high of $91.12. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.29 and a beta of 0.85.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value 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 trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene A. Delaney sold 11,712 shares of Sanmina 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 sale, the director now 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 valued at $2,821,682 over the last three months. 3.22% of the stock is owned by company insiders.

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.