First Bank & Trust Purchases Shares of 2,751 Sanmina Co. (NASDAQ:SANM)

First Bank & Trust purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,751 shares of the electronics maker’s stock, valued at approximately $208,000.

Several other hedge funds have also bought and sold shares of SANM. JPMorgan Chase & Co. grew its holdings in Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after purchasing an additional 366,653 shares during the period. Weiss Asset Management LP boosted its stake in shares of Sanmina by 590.7% in the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after acquiring an additional 325,974 shares during the period. Global Alpha Capital Management Ltd. boosted its stake in shares of Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after acquiring an additional 149,600 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Sanmina by 88.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock worth $20,040,000 after acquiring an additional 124,190 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Sanmina by 36.7% in the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after acquiring an additional 107,906 shares during the period. Institutional investors own 92.71% of the company’s stock.

Sanmina Stock Performance

Sanmina stock opened at $88.56 on Friday. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. The company has a market capitalization of $4.81 billion, a PE ratio of 21.65, a P/E/G ratio of 1.31 and a beta of 0.92. The company has a 50 day moving average price of $81.81 and a 200-day moving average price of $75.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina announced that its Board of Directors has authorized a share repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Craig Hallum upped their price objective on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Insider Activity

In other Sanmina news, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now owns 65,408 shares in the company, valued at $5,495,580.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.