Bank of Nova Scotia Buys New Holdings in Sanmina Co. (NASDAQ:SANM)

Bank of Nova Scotia bought a new stake in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,331 shares of the electronics maker’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Sanmina by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,749,730 shares of the electronics maker’s stock valued at $272,113,000 after purchasing an additional 74,479 shares during the period. Nicola Wealth Management LTD. grew its holdings in Sanmina by 28.4% during the 4th quarter. Nicola Wealth Management LTD. now owns 27,100 shares of the electronics maker’s stock valued at $2,103,000 after buying an additional 6,000 shares in the last quarter. MAI Capital Management grew its holdings in Sanmina by 14.4% during the 4th quarter. MAI Capital Management now owns 9,374 shares of the electronics maker’s stock valued at $537,000 after buying an additional 1,179 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Sanmina during the 4th quarter valued at approximately $362,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Sanmina during the 4th quarter valued at approximately $456,000. Institutional investors own 91.22% of the company’s stock.

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Sanmina Price Performance

Shares of Sanmina stock opened at $53.76 on Friday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 10.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.79. The stock has a 50 day moving average price of $54.74 and a 200-day moving average price of $59.14. Sanmina Co. has a one year low of $38.36 and a one year high of $69.28.

Sanmina declared that its Board of Directors has approved a share buyback program on Thursday, May 11th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Friday, May 12th.

About Sanmina

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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.

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