C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Stake in Sanmina Co. (NASDAQ:SANM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Sanmina Co. (NASDAQ:SANM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 10,834 shares of the electronics maker’s stock, valued at approximately $820,000.

A number of other institutional investors have also recently made changes to their positions in SANM. FMR LLC lifted its stake in shares of Sanmina by 5.0% in the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock worth $117,444,000 after acquiring an additional 82,409 shares during the period. Geode Capital Management LLC raised its holdings in Sanmina by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Sanmina by 6.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock worth $89,018,000 after purchasing an additional 79,565 shares during the period. Global Alpha Capital Management Ltd. increased its position in shares of Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after buying an additional 149,600 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after buying an additional 366,653 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.

Analysts Set New Price Targets

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

Sanmina Price Performance

SANM stock opened at $90.52 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The company’s 50-day moving average is $81.81 and its 200-day moving average is $75.00. The stock has a market capitalization of $4.92 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. Sanmina Co. has a 1 year low of $57.52 and a 1 year high of $91.12.

Sanmina declared that its Board of Directors has authorized a stock 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 buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Sanmina news, Director Eugene A. Delaney sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the transaction, the director now directly owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.22% of the company’s stock.

Sanmina Profile

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.