David V. Hedley III Sells 302 Shares of Sanmina Co. (NASDAQ:SANM) Stock

Sanmina Co. (NASDAQ:SANM) Director David V. Hedley III sold 302 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was 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 in the company, valued at approximately $555,613.80. This trade represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Sanmina Stock Up 2.7 %

Shares of NASDAQ SANM traded up $2.06 during trading hours on Wednesday, hitting $78.25. The company had a trading volume of 286,928 shares, compared to its average volume of 368,082. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $82.28 and its 200-day moving average is $76.33. The stock has a market capitalization of $4.25 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Sanmina Co. has a 1-year low of $57.52 and a 1-year high of $91.12.

Sanmina announced that its board has authorized a stock buyback program on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Sanmina

A number of large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in Sanmina by 33.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,734 shares of the electronics maker’s stock worth $358,000 after purchasing an additional 1,178 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Sanmina in the fourth quarter valued at approximately $12,928,000. Vise Technologies Inc. bought a new stake in Sanmina during the fourth quarter valued at $232,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sanmina by 21.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 114,226 shares of the electronics maker’s stock worth $8,643,000 after purchasing an additional 19,999 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Sanmina by 60.0% during the 4th quarter. Squarepoint Ops LLC now owns 40,546 shares of the electronics maker’s stock valued at $3,068,000 after acquiring an additional 15,197 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.