Eugene A. Delaney Sells 11,712 Shares of Sanmina Co. (NASDAQ:SANM) Stock

Sanmina Co. (NASDAQ:SANM - Get Free Report) Director Eugene A. Delaney sold 11,712 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total transaction of $984,042.24. Following the completion of the sale, the director now directly owns 65,408 shares of the company's stock, valued at approximately $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sanmina Stock Performance

Sanmina stock traded up $2.77 during mid-day trading on Monday, reaching $89.10. 672,195 shares of the company were exchanged, compared to its average volume of 451,258. The firm has a market cap of $4.84 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.28 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. The firm's 50-day simple moving average is $80.22 and its two-hundred day simple moving average is $74.07. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $90.78.

Sanmina declared that its board has authorized a share repurchase plan on Monday, January 27th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Sanmina

Several institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina in the 3rd quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock worth $56,000 after acquiring an additional 164 shares during the period. R Squared Ltd purchased a new position in Sanmina in the fourth quarter worth $58,000. GAMMA Investing LLC lifted its holdings in Sanmina by 88.5% in the third quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker's stock valued at $64,000 after acquiring an additional 437 shares during the period. Finally, Principal Securities Inc. boosted its position in shares of Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker's stock worth $105,000 after purchasing an additional 166 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.