Insider Selling: Sanmina Co. (NASDAQ:SANM) Director Sells 11,391 Shares of Stock

Sanmina Co. (NASDAQ:SANM) Director Mario M. Rosati sold 11,391 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $86.02, for a total value of $979,853.82. Following the transaction, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sanmina Trading Down 1.3 %

NASDAQ SANM opened at $83.79 on Wednesday. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30. The firm has a market cap of $4.55 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.29 and a beta of 0.92. The stock’s 50-day moving average is $82.26 and its 200-day moving average is $75.55.

Sanmina announced that its Board of Directors has approved a stock repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding 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 generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Craig Hallum lifted their price target on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SANM. Creative Planning increased its position in shares of Sanmina by 13.2% during the third quarter. Creative Planning now owns 23,836 shares of the electronics maker’s stock worth $1,632,000 after acquiring an additional 2,772 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in Sanmina during the 3rd quarter worth about $207,000. Highland Capital Management LLC bought a new position in Sanmina during the 3rd quarter worth about $205,000. New York State Common Retirement Fund raised its stake in shares of Sanmina by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 357,105 shares of the electronics maker’s stock valued at $24,444,000 after purchasing an additional 4,943 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Sanmina by 16.3% in the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock valued at $146,000 after purchasing an additional 299 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

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.