Eugene A. Delaney Sells 10,000 Shares of Sanmina Co. (NASDAQ:SANM) Stock

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

Sanmina Price Performance

SANM stock opened at $83.73 on Friday. The stock has a 50-day moving average price of $79.39 and a two-hundred day moving average price of $73.49. Sanmina Co. has a 1 year low of $57.28 and a 1 year high of $86.05. The stock has a market cap of $4.55 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.39 and a beta of 0.91. The company has a current ratio of 2.06, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. Sanmina’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. Equities analysts forecast that Sanmina Co. will post 4.84 EPS for the current fiscal year.

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

Institutional Trading of Sanmina

Institutional investors have recently made changes to their positions in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Sanmina in the 4th quarter valued at $820,000. Empower Advisory Group LLC grew its holdings in shares of Sanmina by 1.8% in the 4th quarter. Empower Advisory Group LLC now owns 267,063 shares of the electronics maker’s stock valued at $20,209,000 after acquiring an additional 4,811 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Sanmina by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 285,846 shares of the electronics maker’s stock valued at $21,630,000 after acquiring an additional 10,542 shares in the last quarter. Principal Securities Inc. increased its position in shares of Sanmina by 13.6% in the fourth quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after acquiring an additional 166 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Sanmina by 9.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker’s stock worth $8,018,000 after acquiring an additional 8,962 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SANM. Craig Hallum boosted their target price on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $92.00 in a research report on Wednesday. Finally, StockNews.com upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

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.