Insider Selling: Sanmina Co. (NASDAQ:SANM) Director Sells 10,000 Shares of Stock

Sanmina Co. (NASDAQ:SANM - Get Free Report) Director Eugene A. Delaney sold 10,000 shares of Sanmina stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $83.50, for a total value of $835,000.00. Following the transaction, the director now directly owns 77,120 shares in the company, valued at approximately $6,439,520. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sanmina Stock Performance

SANM traded up $5.16 during trading on Tuesday, hitting $87.38. The stock had a trading volume of 662,013 shares, compared to its average volume of 437,732. Sanmina Co. has a twelve month low of $57.28 and a twelve month high of $87.53. The firm has a market capitalization of $4.75 billion, a P/E ratio of 21.36, a PEG ratio of 1.22 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 company's 50-day moving average price is $79.54 and its 200 day moving average price is $73.65.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The firm had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the company posted $1.20 earnings per share. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina declared that its Board of Directors has initiated a share repurchase program on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

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

Institutional Trading of Sanmina

Several hedge funds have recently modified their holdings of the business. Citigroup Inc. raised its position in Sanmina by 64.6% in the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker's stock worth $5,061,000 after acquiring an additional 29,028 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker's stock worth $103,727,000 after buying an additional 35,622 shares in the last quarter. Barclays PLC grew its position in Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock worth $6,358,000 after buying an additional 69,431 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Sanmina in the third quarter valued at about $2,224,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock valued at $34,903,000 after acquiring an additional 366,653 shares during the period. 92.71% of the stock is 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.