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

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

Sanmina Stock Down 0.6 %

NASDAQ:SANM opened at $83.73 on Friday. The stock’s fifty day moving average price is $79.39 and its two-hundred day moving average price is $73.49. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.39 and a beta of 0.91. Sanmina Co. has a 52-week low of $57.28 and a 52-week high of $86.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 2.06.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, analysts anticipate that Sanmina Co. will post 4.84 EPS for the current year.

Sanmina announced that its Board of Directors has approved 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 buy up to 7.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Sanmina

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after acquiring an additional 366,653 shares during the last quarter. Weiss Asset Management LP boosted its position in shares of Sanmina by 590.7% in the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after purchasing an additional 325,974 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after purchasing an additional 149,600 shares during the period. Assenagon Asset Management S.A. increased its holdings in Sanmina by 88.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker’s stock valued at $20,040,000 after purchasing an additional 124,190 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Sanmina by 36.7% in the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock valued at $27,524,000 after buying an additional 107,906 shares during the period. 92.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.