Sanmina Co. (NASDAQ:SANM) Director Mario M. Rosati Sells 11,391 Shares

Sanmina Co. (NASDAQ:SANM) Director Mario M. Rosati sold 11,391 shares of the firm’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 transaction of $979,853.82. Following the transaction, the director now owns 80,295 shares of the company’s stock, valued at approximately $6,906,975.90. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sanmina Stock Performance

NASDAQ:SANM opened at $84.89 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $91.12. The company has a fifty day moving average of $82.08 and a 200-day moving average of $75.34. The firm has a market capitalization of $4.61 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.29 and a beta of 0.92.

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

Hedge Funds Weigh In On Sanmina

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Sanmina in the 3rd quarter valued at about $32,000. R Squared Ltd acquired a new stake in Sanmina in the fourth quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sanmina during the fourth quarter valued at approximately $90,000. GAMMA Investing LLC raised its position 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 period. Finally, Principal Securities Inc. lifted its holdings in shares of 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 purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in 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. Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.