Sanmina Co. (NASDAQ:SANM) Director Mario M. Rosati Sells 11,391 Shares

Sanmina Co. (NASDAQ:SANM - Get Free Report) Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the completion of the transaction, the director now directly owns 80,295 shares of the company's stock, valued at $6,906,975.90. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sanmina Price Performance

Shares of SANM traded down $0.67 during midday trading on Thursday, hitting $83.61. 109,816 shares of the company traded hands, compared to its average volume of 421,042. The firm has a 50 day moving average of $82.38 and a 200-day moving average of $75.61. 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 $4.54 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.

Sanmina announced that its board has authorized a share buyback program on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Craig Hallum upped their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th.

Institutional Trading of Sanmina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Sanmina during the third quarter worth approximately $32,000. R Squared Ltd purchased a new position in shares of Sanmina during the fourth quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sanmina during the fourth quarter worth approximately $90,000. GAMMA Investing LLC increased its holdings in 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 buying an additional 352 shares during the period. Finally, Principal Securities Inc. increased its holdings in Sanmina by 13.6% during the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock valued at $105,000 after buying an additional 166 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

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.