Insider Selling: Sanmina Co. (NASDAQ:SANM) Director Sells 10,000 Shares of Stock

Sanmina Co. (NASDAQ:SANM) Director Eugene A. Delaney sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total transaction of $835,000.00. Following the transaction, the director now directly owns 77,120 shares of the company’s stock, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sanmina Trading Down 0.6 %

SANM stock traded down $0.48 during midday trading on Friday, hitting $83.73. The stock had a trading volume of 737,917 shares, compared to its average volume of 414,321. The firm has a market cap of $4.55 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.25. Sanmina Co. has a 12-month low of $57.28 and a 12-month high of $86.05. The company’s 50-day moving average price is $79.39 and its 200 day moving average price is $73.49.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Sanmina Co. will post 4.84 earnings per share for the current fiscal year.

Sanmina announced that its Board of Directors has authorized a share repurchase program on Monday, January 27th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Sanmina

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in Sanmina in the 3rd quarter valued at approximately $32,000. R Squared Ltd bought a new stake in shares of Sanmina during the 4th quarter worth $58,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after buying an additional 164 shares during the period. GAMMA Investing LLC boosted its holdings in Sanmina by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock valued at $64,000 after purchasing an additional 437 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after purchasing an additional 166 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SANM shares. StockNews.com raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $58.00 to $92.00 in a research note on Wednesday. Finally, Craig Hallum lifted their target price 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 Company 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.