Avantax Advisory Services Inc. Raises Stake in Sanmina Co. (NASDAQ:SANM)

Avantax Advisory Services Inc. boosted its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,433 shares of the electronics maker’s stock after buying an additional 475 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Sanmina were worth $1,849,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Kendall Capital Management lifted its position in Sanmina by 2.0% during the fourth quarter. Kendall Capital Management now owns 6,205 shares of the electronics maker’s stock valued at $470,000 after purchasing an additional 120 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Sanmina by 6.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock valued at $166,000 after buying an additional 125 shares during the last quarter. Park Avenue Securities LLC lifted 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 buying an additional 129 shares during the period. Principal Securities Inc. boosted its stake in shares of Sanmina by 13.6% in the fourth 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, Janney Montgomery Scott LLC grew its holdings in Sanmina by 3.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker’s stock worth $416,000 after acquiring an additional 185 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SANM has been the subject of a number of analyst reports. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Activity

In related news, Director Eugene A. Delaney sold 11,712 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. The trade was a 15.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,103 shares of company stock worth $2,798,896 over the last three months. 3.22% of the stock is currently owned by corporate insiders.

Sanmina Price Performance

Shares of Sanmina stock opened at $76.12 on Tuesday. The firm has a market cap of $4.14 billion, a PE ratio of 18.61, a P/E/G ratio of 1.29 and a beta of 0.85. The business has a 50-day moving average price of $82.30 and a 200 day moving average price of $76.28. The company has a quick ratio of 1.30, a current ratio of 2.06 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.

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

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.