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 dated Friday, February 21st. The shares were sold at an average price of $86.02, for a total transaction of $979,853.82. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sanmina Price Performance

Shares of Sanmina stock opened at $83.79 on Wednesday. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.29 and a beta of 0.92. The firm’s 50-day moving average price is $82.26 and its two-hundred day moving average price is $75.55. 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 1-year low of $57.52 and a 1-year high of $91.12.

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

Institutional Investors Weigh In On Sanmina

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Sanmina during the third quarter worth $32,000. R Squared Ltd acquired a new position in Sanmina during the 4th quarter worth about $58,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sanmina during the 4th quarter worth about $90,000. GAMMA Investing LLC grew its holdings in Sanmina by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,283 shares of the electronics maker’s stock worth $97,000 after acquiring an additional 352 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Sanmina by 13.6% in the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after acquiring an additional 166 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SANM shares. Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $58.00 to $92.00 in a report on Wednesday, January 29th. Craig Hallum raised their target price on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a research report 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.