XTX Topco Ltd Invests $889,000 in Sanmina Co. (NASDAQ:SANM)

XTX Topco Ltd purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM) during the 4th quarter, Holdings Channel reports. The fund purchased 11,746 shares of the electronics maker’s stock, valued at approximately $889,000.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Sanmina during the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new position in Sanmina during the fourth quarter valued at approximately $58,000. GAMMA Investing LLC increased its stake in Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock valued at $97,000 after buying an additional 352 shares during the period. Principal Securities Inc. lifted its position in 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 buying an additional 166 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after buying an additional 1,056 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of 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 upped their price target for the stock from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

Insider Buying and Selling at Sanmina

In related news, Director Mario M. Rosati sold 11,391 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the sale, the director now directly owns 80,295 shares in the company, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene A. Delaney sold 11,712 shares of the 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 transaction, the director now owns 65,408 shares in the company, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,405 shares of company stock worth $2,821,682 over the last three months. Corporate insiders own 3.22% of the company’s stock.

Sanmina Stock Down 1.8 %

Sanmina stock opened at $75.18 on Thursday. The company has a market capitalization of $4.08 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.29 and a beta of 1.00. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12. The firm’s fifty day simple moving average is $79.02 and its 200-day simple moving average is $77.47. 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 announced that its board has initiated a share buyback plan on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.