David V. Hedley III Sells 302 Shares of Sanmina Co. (NASDAQ:SANM) Stock

Sanmina Co. (NASDAQ:SANM) Director David V. Hedley III sold 302 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $75.45, for a total value of $22,785.90. Following the completion of the transaction, the director now directly owns 7,364 shares of the company’s stock, valued at approximately $555,613.80. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Sanmina Stock Performance

NASDAQ SANM traded up $2.06 during trading hours on Wednesday, hitting $78.25. 286,928 shares of the stock were exchanged, compared to its average volume of 368,082. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12. The stock has a 50-day moving average of $82.28 and a 200 day moving average of $76.33. 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 declared that its board has authorized a stock buyback program on Monday, January 27th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Sanmina

A number of hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Sanmina during the third quarter valued at approximately $32,000. R Squared Ltd bought a new stake in Sanmina in the fourth quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sanmina during the fourth quarter worth $90,000. GAMMA Investing LLC raised its stake in 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 acquiring an additional 352 shares during the period. Finally, Principal Securities Inc. boosted its position in Sanmina by 13.6% during 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 owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SANM. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.