Sanmina Co. (NASDAQ:SANM) Director Sells $22,785.90 in Stock

Sanmina Co. (NASDAQ:SANM) Director David V. Hedley III sold 302 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $75.45, for a total transaction of $22,785.90. Following the completion of the sale, the director now owns 7,364 shares of the company’s stock, valued at approximately $555,613.80. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sanmina Price Performance

SANM opened at $78.32 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52-week low of $57.52 and a 52-week high of $91.12. The company has a 50 day moving average of $82.32 and a two-hundred day moving average of $76.36. The company has a market cap of $4.25 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.29 and a beta of 0.85.

Sanmina announced that its board has initiated a stock 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 purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Sanmina

Several institutional investors have recently bought and sold shares of SANM. FMR LLC lifted its position in shares of Sanmina by 14.2% during the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock worth $148,239,000 after purchasing an additional 243,258 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Sanmina by 39.6% during the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock worth $139,407,000 after purchasing an additional 522,534 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sanmina by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock worth $116,277,000 after purchasing an additional 21,239 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Sanmina by 1.8% during the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker’s stock worth $81,256,000 after purchasing an additional 19,144 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Sanmina by 9.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker’s stock worth $76,060,000 after purchasing an additional 90,627 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SANM. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

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.