Sanmina Co. (NASDAQ:SANM) Director Sells $984,042.24 in Stock

Sanmina Co. (NASDAQ:SANM) Director Eugene A. Delaney sold 11,712 shares of the firm’s stock in a transaction 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Sanmina Trading Up 0.6 %

SANM traded up $0.49 during midday trading on Thursday, hitting $87.85. 405,777 shares of the company were exchanged, compared to its average volume of 443,491. The firm has a market capitalization of $4.77 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.22 and a beta of 0.92. Sanmina Co. has a 1-year low of $57.28 and a 1-year high of $90.78. The firm’s 50 day moving average price is $79.90 and its 200-day moving average price is $73.86. 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 (NASDAQ:SANM) last announced its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business earned $1.20 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Sanmina Co. will post 5.15 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock valued at $166,000 after buying an additional 125 shares in the last quarter. Park Avenue Securities LLC increased its position in Sanmina by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker’s stock valued at $303,000 after buying an additional 129 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after buying an additional 164 shares in the last quarter. Principal Securities Inc. increased 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 valued at $105,000 after buying an additional 166 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Sanmina by 3.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker’s stock valued at $416,000 after buying an additional 185 shares in the last quarter. 92.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SANM. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday. Craig Hallum raised their price objective on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $58.00 to $92.00 in a report on Wednesday, January 29th.

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.