Raymond James Financial Inc. Buys New Holdings in Sanmina Co. (NASDAQ:SANM)

Raymond James Financial Inc. acquired a new stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,947 shares of the electronics maker's stock, valued at approximately $2,644,000. Raymond James Financial Inc. owned about 0.06% of Sanmina as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SANM. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina during the third quarter worth $32,000. R Squared Ltd purchased a new stake in shares of Sanmina in the fourth quarter valued at about $58,000. GAMMA Investing LLC increased its stake 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 acquiring an additional 352 shares during the period. Principal Securities Inc. raised its holdings in 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 purchasing an additional 166 shares in 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. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Price Performance

Shares of NASDAQ:SANM traded up $1.72 during trading on Friday, hitting $80.23. 336,239 shares of the stock were exchanged, compared to its average volume of 390,657. Sanmina Co. has a 12-month low of $60.70 and a 12-month high of $91.12. The company has a market cap of $4.29 billion, a PE ratio of 19.62, a P/E/G ratio of 1.29 and a beta of 1.10. The company has a fifty day moving average price of $76.56 and a two-hundred day moving average price of $78.25. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12.

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

Sanmina announced that its board has approved a stock buyback program 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 programs are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SANM shares. StockNews.com cut Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $58.00 to $92.00 in a research report 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 dated Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the transaction, the director now directly owns 65,408 shares in the company, valued at approximately $5,495,580.16. This represents a 15.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mario M. Rosati sold 11,391 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the sale, the director now directly owns 80,295 shares in the company, 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. Insiders have sold 23,405 shares of company stock worth $1,986,682 over the last ninety days. 3.22% of the stock is currently owned by insiders.

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.