Sanmina Co. (NASDAQ:SANM) Director David V. Hedley III Sells 302 Shares of Stock

Sanmina Co. (NASDAQ:SANM) Director David V. Hedley III sold 302 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $75.45, for a total value of $22,785.90. Following the transaction, the director now owns 7,364 shares of the company’s stock, valued at $555,613.80. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sanmina Stock Performance

Shares of SANM stock opened at $78.25 on Thursday. The stock’s 50-day moving average is $82.30 and its two-hundred day moving average is $76.34. 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 1 year low of $57.52 and a 1 year high of $91.12. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.29 and a beta of 0.85.

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

Institutional Trading of Sanmina

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Sanmina during the 4th quarter valued at $48,823,000. Franklin Resources Inc. boosted its holdings in shares of Sanmina by 39.6% in the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock worth $139,407,000 after acquiring an additional 522,534 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Sanmina in the 4th quarter valued at $34,868,000. JPMorgan Chase & Co. increased its holdings in Sanmina by 255.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock worth $34,903,000 after purchasing an additional 366,653 shares in the last quarter. Finally, Weiss Asset Management LP lifted its stake in Sanmina by 590.7% in the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after purchasing an additional 325,974 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SANM. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and raised their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th.

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.