Navellier & Associates Inc. Purchases 1,242 Shares of Sanmina Co. (NASDAQ:SANM)

Navellier & Associates Inc. lifted its position in Sanmina Co. (NASDAQ:SANM) by 30.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,326 shares of the electronics maker’s stock after purchasing an additional 1,242 shares during the quarter. Navellier & Associates Inc.’s holdings in Sanmina were worth $403,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SANM. Wilmington Savings Fund Society FSB bought a new stake in shares of Sanmina in the 3rd quarter worth about $32,000. R Squared Ltd acquired a new position in Sanmina during the 4th quarter worth about $58,000. GAMMA Investing LLC lifted its position in Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after buying an additional 352 shares in the last quarter. Principal Securities Inc. lifted its position in Sanmina by 13.6% during 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 in the last quarter. Finally, KBC Group NV lifted its position in Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after buying an additional 368 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sanmina Stock Performance

Sanmina stock opened at $85.72 on Monday. 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 1 year low of $57.52 and a 1 year high of $91.12. The company has a market cap of $4.66 billion, a PE ratio of 20.96, a PEG ratio of 1.29 and a beta of 0.92. The company’s 50-day moving average is $82.08 and its two-hundred day moving average is $75.29.

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

Insider Buying and Selling at Sanmina

In related news, Director Eugene A. Delaney sold 11,712 shares of the business’s 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 in the company, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.22% of the company’s stock.

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.