Sanmina Co. (NASDAQ:SANM) Director Sells $650,123.04 in Stock

Sanmina Co. (NASDAQ:SANM) Director Eugene A. Delaney sold 8,688 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $74.83, for a total transaction of $650,123.04. Following the sale, the director now owns 92,199 shares of the company’s stock, valued at $6,899,251.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sanmina Price Performance

SANM stock opened at $65.01 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $68.56 and its two-hundred day moving average price is $63.55. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.98 and a beta of 0.92. Sanmina Co. has a 12-month low of $43.40 and a 12-month high of $76.84.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 EPS. As a group, equities analysts predict that Sanmina Co. will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SANM. Craig Hallum reissued a “hold” rating and issued a $62.00 target price on shares of Sanmina in a research note on Tuesday, April 30th. StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SANM. GAMMA Investing LLC boosted its stake in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 257 shares in the last quarter. Principal Securities Inc. purchased a new stake in Sanmina in the fourth quarter worth about $64,000. Delta Asset Management LLC TN bought a new stake in Sanmina during the 4th quarter valued at approximately $85,000. Innealta Capital LLC purchased a new position in shares of Sanmina during the 2nd quarter worth approximately $116,000. Finally, Quest Partners LLC bought a new position in shares of Sanmina in the 4th quarter worth approximately $126,000. 92.71% of the stock is owned by hedge funds and other institutional investors.

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.