Hillsdale Investment Management Inc. Purchases 300 Shares of Sanmina Co. (NASDAQ:SANM)

Hillsdale Investment Management Inc. raised its stake in Sanmina Co. (NASDAQ:SANM) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,500 shares of the electronics maker’s stock after purchasing an additional 300 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.08% of Sanmina worth $3,216,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the third quarter valued at $32,000. R Squared Ltd acquired a new position in shares of Sanmina in the 4th quarter valued at approximately $58,000. GAMMA Investing LLC lifted its position in Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 352 shares in the last quarter. Principal Securities Inc. boosted its stake 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 purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after purchasing an additional 1,056 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Stock Down 0.0 %

NASDAQ:SANM opened at $78.31 on Friday. 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 price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $82.34 and its two-hundred day moving average price is $76.49.

Sanmina declared that its board has authorized a stock buyback plan on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently 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. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Buying and Selling

In related news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total transaction of $835,000.00. Following the completion of the transaction, the director now directly owns 77,120 shares in the company, valued at $6,439,520. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,405 shares of company stock worth $2,821,682. 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.