Bank of Montreal Can Buys 769 Shares of Sanmina Co. (NASDAQ:SANM)

Bank of Montreal Can boosted its stake in shares of Sanmina Co. (NASDAQ:SANM) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,661 shares of the electronics maker’s stock after buying an additional 769 shares during the period. Bank of Montreal Can’s holdings in Sanmina were worth $504,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina during the 3rd quarter valued at $32,000. R Squared Ltd purchased a new position in Sanmina in the 4th quarter worth about $58,000. GAMMA Investing LLC lifted its stake in Sanmina by 37.8% during 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 during the period. Principal Securities Inc. boosted its holdings 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 acquiring an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Sanmina by 283.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after acquiring an additional 1,056 shares during the period. 92.71% of the stock is owned by institutional investors.

Insider Activity

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 stock was sold at an average price of $84.02, for a total value of $984,042.24. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $979,853.82. Following the sale, the director now directly owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,405 shares of company stock worth $2,821,682 over the last ninety days. Corporate insiders own 3.22% of the company’s stock.

Sanmina Stock Down 2.5 %

Shares of SANM stock opened at $73.06 on Tuesday. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.29 and a beta of 1.00. 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 fifty day moving average price is $78.14 and its 200-day moving average price is $77.76. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12.

Sanmina declared that its Board of Directors has authorized 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 usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SANM shares. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th.

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.