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

Sanmina Co. (NASDAQ:SANM) Director Eugene A. Delaney sold 11,712 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was 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. The trade was a 15.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sanmina Stock Up 0.6 %

NASDAQ SANM opened at $87.85 on Friday. The stock has a market cap of $4.77 billion, a PE ratio of 21.48, a P/E/G ratio of 1.22 and a beta of 0.92. Sanmina Co. has a fifty-two week low of $57.28 and a fifty-two week high of $90.78. The business has a 50 day moving average price of $79.90 and a two-hundred day moving average price of $73.86. 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 (NASDAQ:SANM) last issued its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The firm 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%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. As a group, sell-side analysts predict that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Sanmina declared that its Board of Directors has authorized a stock buyback plan on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

SANM has been the topic of a number of recent analyst reports. StockNews.com cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Thursday. 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 report on Tuesday, November 5th. Finally, Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th.

Institutional Investors Weigh In On Sanmina

Several hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Sanmina in the 3rd quarter worth about $32,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. R Squared Ltd acquired a new position in shares of Sanmina during the 4th quarter valued at about $58,000. GAMMA Investing LLC grew its holdings in Sanmina by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock valued at $64,000 after buying an additional 437 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after buying an additional 166 shares during the last quarter. 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.