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 stock in a transaction dated 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 transaction, the director now owns 7,364 shares of the company’s stock, valued at $555,613.80. This represents a 3.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sanmina Stock Performance

Shares of SANM opened at $78.32 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The stock has a market cap of $4.25 billion, a P/E ratio of 19.15, a PEG ratio of 1.29 and a beta of 0.85. The company has a 50-day moving average of $82.32 and a two-hundred day moving average of $76.36. Sanmina Co. has a 12-month low of $57.52 and a 12-month high of $91.12.

Sanmina declared that its Board of Directors has initiated a share 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 usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Sanmina

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of Sanmina by 64.6% during the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock worth $5,061,000 after buying an additional 29,028 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sanmina by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after buying an additional 35,622 shares in the last quarter. Barclays PLC grew its holdings in shares of Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after buying an additional 69,431 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sanmina during the third quarter worth about $2,224,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sanmina by 255.9% during the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after buying an additional 366,653 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

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.