Mario M. Rosati Sells 11,391 Shares of Sanmina Co. (NASDAQ:SANM) Stock

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

Sanmina Stock Performance

Shares of Sanmina stock traded down $0.83 during trading on Monday, reaching $84.89. The company’s stock had a trading volume of 407,580 shares, compared to its average volume of 437,930. The business’s fifty day moving average price is $82.08 and its 200-day moving average price is $75.34. Sanmina Co. has a one year low of $57.52 and a one year high of $91.12. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.29 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 declared that its Board of Directors has approved a stock buyback program on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SANM. Norges Bank bought a new position in Sanmina during the fourth quarter worth $48,823,000. Franklin Resources Inc. grew its position in 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 purchasing an additional 522,534 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Sanmina during the 4th quarter worth about $34,868,000. JPMorgan Chase & Co. increased its holdings in shares of 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 during the period. Finally, Weiss Asset Management LP raised its position in shares of Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after buying an additional 325,974 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SANM. Craig Hallum boosted their price target on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Bank of America upgraded 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 report on Wednesday, January 29th.

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.