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 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 completion of the sale, the director now owns 77,120 shares of the company’s stock, valued at $6,439,520. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sanmina Trading Down 0.6 %

Shares of SANM opened at $83.73 on Monday. The firm has a market capitalization of $4.55 billion, a P/E ratio of 20.47, a PEG ratio of 1.39 and a beta of 0.91. 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’s 50-day moving average is $79.47 and its two-hundred day moving average is $73.57. Sanmina Co. has a twelve month low of $57.28 and a twelve month high of $86.05.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company 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 earnings per share. Sanmina’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, 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 approved a share buyback plan on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

SANM has been the subject of several analyst reports. StockNews.com raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and raised their price target for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, Craig Hallum upped their price objective on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th.

Hedge Funds Weigh In On Sanmina

Several hedge funds have recently added to or reduced their stakes in SANM. Nisa Investment Advisors LLC grew its position in shares of Sanmina by 6.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock valued at $166,000 after purchasing an additional 125 shares during the last quarter. Park Avenue Securities LLC raised its holdings 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 acquiring an additional 129 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 purchasing an additional 164 shares during the period. Principal Securities Inc. boosted its holdings in shares of Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Sanmina by 3.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker’s stock valued at $416,000 after purchasing an additional 185 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

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.