Navellier & Associates Inc. Has $403,000 Stock Position in Sanmina Co. (NASDAQ:SANM)

Navellier & Associates Inc. boosted its stake in shares of Sanmina Co. (NASDAQ:SANM) by 30.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,326 shares of the electronics maker’s stock after buying an additional 1,242 shares during the period. Navellier & Associates Inc.’s holdings in Sanmina were worth $403,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Sanmina during the 3rd quarter worth approximately $32,000. R Squared Ltd bought a new stake in Sanmina in the 4th quarter valued at approximately $58,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 352 shares during the last quarter. Principal Securities Inc. grew its stake 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 worth $105,000 after acquiring an additional 166 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after acquiring an additional 368 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 11,712 shares of the firm’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 transaction, the director now directly owns 65,408 shares of the company’s stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.22% of the stock is owned by company insiders.

Sanmina Price Performance

NASDAQ:SANM opened at $85.72 on Monday. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12. 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 has a fifty day simple moving average of $82.08 and a 200 day simple moving average of $75.29. The stock has a market capitalization of $4.66 billion, a PE ratio of 20.96, a P/E/G ratio of 1.29 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

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

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.