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 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 sale, the director now directly owns 7,364 shares in the company, valued at approximately $555,613.80. This trade represents a 3.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sanmina Stock Down 0.0 %

Sanmina stock opened at $78.31 on Friday. The company’s 50-day moving average price is $82.34 and its two-hundred day moving average price is $76.42. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.29 and a beta of 0.85. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52 week low of $57.52 and a 52 week high of $91.12.

Sanmina declared that its Board of Directors has initiated 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 buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Sanmina

Several hedge funds have recently made changes to their positions in SANM. Wilmington Savings Fund Society FSB acquired a new position in shares of Sanmina in the 3rd quarter worth approximately $32,000. R Squared Ltd acquired a new position in shares of Sanmina in the 4th quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sanmina in the 4th quarter worth approximately $90,000. GAMMA Investing LLC grew its stake in shares of Sanmina by 37.8% in the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after purchasing an additional 352 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Analysts Set New Price Targets

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

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.