Sanmina Co. (NASDAQ:SANM) Director Sells $22,785.90 in Stock

Sanmina Co. (NASDAQ:SANM) Director David V. Hedley III sold 302 shares of the firm’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 transaction, the director now owns 7,364 shares of the company’s stock, valued at approximately $555,613.80. The trade was a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sanmina Stock Performance

SANM stock opened at $78.31 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The stock has a market cap of $4.25 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.29 and a beta of 0.85. The firm has a 50 day simple moving average of $82.34 and a 200 day simple moving average of $76.42. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SANM. StockNews.com cut 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 price target for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Institutional Trading of Sanmina

Several institutional investors have recently made changes to their positions in SANM. KBC Group NV raised its position in Sanmina by 25.5% during the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after acquiring an additional 368 shares in the last quarter. Phocas Financial Corp. bought a new position in Sanmina during the third quarter valued at approximately $5,340,000. Global Alpha Capital Management Ltd. raised its position in Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after acquiring an additional 149,600 shares in the last quarter. Intech Investment Management LLC raised its position in Sanmina by 34.3% during the third quarter. Intech Investment Management LLC now owns 26,405 shares of the electronics maker’s stock valued at $1,807,000 after acquiring an additional 6,739 shares in the last quarter. Finally, Citigroup Inc. raised its position in Sanmina by 64.6% during the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker’s stock valued at $5,061,000 after acquiring an additional 29,028 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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.