Insider Selling: Sanmina Co. (NASDAQ:SANM) Director Sells 302 Shares of Stock

Sanmina Co. (NASDAQ:SANM - Get Free Report) Director David V. Hedley III sold 302 shares of Sanmina stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $75.45, for a total value of $22,785.90. Following the completion of the sale, the director now owns 7,364 shares of the company's stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link.

Sanmina Stock Down 0.0 %

Shares of SANM stock traded down $0.01 during mid-day trading on Friday, hitting $78.31. 769,671 shares of the stock traded hands, compared to its average volume of 368,859. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The stock has a market cap of $4.25 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The stock's fifty day moving average is $82.34 and its two-hundred day moving average is $76.49.

Sanmina announced that its board has approved a share buyback plan on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Remove Ads

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com lowered Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

Institutional Investors Weigh In On Sanmina

Several institutional investors have recently bought and sold shares of SANM. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sanmina in the 3rd quarter worth $32,000. R Squared Ltd acquired a new stake in Sanmina in the fourth quarter worth about $58,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sanmina during the fourth quarter worth about $90,000. GAMMA Investing LLC increased its holdings in shares of Sanmina by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker's stock valued at $97,000 after acquiring an additional 352 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of 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 purchasing an additional 166 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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.