Insider Selling: Sanmina Co. (NASDAQ:SANM) Director Sells 11,391 Shares of Stock

Sanmina Co. (NASDAQ:SANM) Director Mario M. Rosati sold 11,391 shares of Sanmina stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the transaction, the director now owns 80,295 shares of the company’s stock, valued at $6,906,975.90. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Sanmina Price Performance

Sanmina stock opened at $84.89 on Tuesday. The stock has a market cap 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. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average price is $82.08 and its two-hundred day moving average price is $75.34. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12.

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 outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Sanmina by 14.2% during the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock worth $148,239,000 after purchasing an additional 243,258 shares during the period. Franklin Resources Inc. increased its holdings in Sanmina by 39.6% during the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock worth $139,407,000 after buying an additional 522,534 shares during the last quarter. Geode Capital Management LLC raised its position in Sanmina by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock worth $116,277,000 after acquiring an additional 21,239 shares during the period. Earnest Partners LLC boosted its stake in Sanmina by 1.8% in the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker’s stock valued at $81,256,000 after acquiring an additional 19,144 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of Sanmina by 9.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker’s stock valued at $76,060,000 after acquiring an additional 90,627 shares during the period. Institutional investors own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock 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.