New Age Alpha Advisors LLC Invests $581,000 in Sanmina Co. (NASDAQ:SANM)

New Age Alpha Advisors LLC acquired a new stake in Sanmina Co. (NASDAQ:SANM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,681 shares of the electronics maker’s stock, valued at approximately $581,000.

Several other large investors have also bought and sold shares of SANM. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the third quarter valued at about $32,000. R Squared Ltd acquired a new stake in Sanmina during the 4th quarter valued at approximately $58,000. GAMMA Investing LLC raised its holdings in Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after purchasing an additional 352 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after purchasing an additional 1,056 shares during the last quarter. 92.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SANM. 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 report on Wednesday, January 29th. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

Insider Buying and Selling

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 shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the transaction, the director now owns 65,408 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction dated 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 owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,405 shares of company stock valued at $2,821,682. 3.22% of the stock is owned by company insiders.

Sanmina Price Performance

Shares of NASDAQ SANM opened at $76.18 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $81.85 and its 200-day moving average price is $77.12. The firm has a market capitalization of $4.14 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12.

Sanmina announced that its Board of Directors has approved 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 purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is 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.