Sanmina Co. (NASDAQ:SANM) Director Sells $835,000.00 in Stock

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

Sanmina Stock Performance

Shares of SANM traded down $0.48 during mid-day trading on Friday, hitting $83.73. 737,917 shares of the company’s stock were exchanged, compared to its average volume of 414,321. The company has a current ratio of 2.06, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $4.55 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.39 and a beta of 0.91. Sanmina Co. has a fifty-two week low of $57.28 and a fifty-two week high of $86.05. The business’s 50 day moving average is $79.39 and its two-hundred day moving average is $73.49.

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

Sanmina announced that its Board of Directors has approved a share buyback plan on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Sanmina

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Sanmina by 5.0% in the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker’s stock valued at $117,444,000 after purchasing an additional 82,409 shares during the period. Geode Capital Management LLC increased its holdings in Sanmina by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after buying an additional 35,622 shares in the last quarter. Franklin Resources Inc. increased its holdings in Sanmina by 6.4% in the third quarter. Franklin Resources Inc. now owns 1,319,768 shares of the electronics maker’s stock valued at $89,018,000 after buying an additional 79,565 shares in the last quarter. Global Alpha Capital Management Ltd. increased its holdings in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after buying an additional 149,600 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after buying an additional 366,653 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Craig Hallum increased 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. Finally, Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $58.00 to $92.00 in a research note on Wednesday.

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.