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

Sanmina Co. (NASDAQ:SANM) Director Eugene A. Delaney sold 11,712 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $84.02, for a total value of $984,042.24. Following the transaction, the director now directly owns 65,408 shares of the company’s stock, valued at $5,495,580.16. This trade represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Sanmina Stock Performance

Shares of NASDAQ SANM traded up $0.49 during trading hours on Thursday, reaching $87.85. 405,777 shares of the stock were exchanged, compared to its average volume of 443,491. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. Sanmina Co. has a 52 week low of $57.28 and a 52 week high of $90.78. The stock’s fifty day simple moving average is $79.90 and its 200 day simple moving average is $73.86.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The company 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 quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Sell-side analysts predict that Sanmina Co. will post 5.15 EPS for the current year.

Sanmina declared that its Board of Directors has authorized a share buyback program on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Sanmina

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Sanmina during the 3rd quarter worth $32,000. R Squared Ltd bought a new position in Sanmina during the 4th quarter worth $58,000. Northwestern Mutual Wealth Management Co. increased its stake in Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after acquiring an additional 164 shares during the period. GAMMA Investing LLC increased its stake in Sanmina by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock worth $64,000 after acquiring an additional 437 shares during the period. Finally, Principal Securities Inc. increased its stake in Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after acquiring an additional 166 shares during the period. Institutional investors own 92.71% of the company’s stock.

Analysts Set New Price Targets

SANM has been the topic of several research analyst reports. Craig Hallum upped their price objective on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th. Finally, StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

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.