C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $820,000 Position 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) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 10,834 shares of the electronics maker’s stock, valued at approximately $820,000.

Several other large investors also recently made changes to their positions in SANM. CWM LLC raised its holdings in shares of Sanmina by 40.5% during the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after buying an additional 513 shares during the period. Creative Planning increased its holdings in Sanmina by 13.2% during the 3rd quarter. Creative Planning now owns 23,836 shares of the electronics maker’s stock worth $1,632,000 after purchasing an additional 2,772 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Sanmina during the third quarter worth approximately $207,000. TFG Advisers LLC grew its holdings in Sanmina by 5.1% during the 3rd quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker’s stock worth $286,000 after acquiring an additional 203 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in Sanmina in the third quarter worth about $205,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 11,712 shares of the company’s stock in a transaction that occurred 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 directly owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.22% of the company’s stock.

Analyst Ratings Changes

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

Sanmina Stock Up 0.9 %

SANM opened at $89.35 on Friday. The stock’s 50 day moving average price is $80.76 and its 200 day moving average price is $74.39. 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 stock has a market cap of $4.85 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.28 and a beta of 0.92. Sanmina Co. has a 12 month low of $57.52 and a 12 month high of $90.78.

Sanmina announced that its Board of Directors has initiated a stock repurchase program on Monday, January 27th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Sanmina Company 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.