FORA Capital LLC Acquires Shares of 3,494 Sanmina Co. (NASDAQ:SANM)

FORA Capital LLC bought a new position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,494 shares of the electronics maker's stock, valued at approximately $264,000.

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Sanmina during the third quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in Sanmina in the fourth quarter valued at $58,000. GAMMA Investing LLC grew its holdings in shares of Sanmina by 37.8% during the fourth 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. grew its holdings in shares of Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after buying an additional 166 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SANM. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th.

Insider Transactions at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the transaction, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. This represents a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.22% of the company's stock.

Sanmina Price Performance

SANM stock traded up $1.81 during trading on Tuesday, hitting $85.27. 223,637 shares of the stock traded hands, compared to its average volume of 391,475. Sanmina Co. has a one year low of $61.52 and a one year high of $91.12. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.29 and a beta of 1.10. 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 company has a 50 day simple moving average of $76.59 and a 200 day simple moving average of $79.07.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping the consensus estimate of $1.38 by $0.03. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The firm's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. Equities analysts expect that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina declared that its board has initiated a stock buyback plan on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are 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.