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 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 transaction of $979,853.82. Following the transaction, the director now directly owns 80,295 shares of the company’s stock, valued at $6,906,975.90. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sanmina Price Performance

Shares of Sanmina stock traded down $0.83 during mid-day trading on Monday, reaching $84.89. 407,580 shares of the stock were exchanged, compared to its average volume of 437,930. Sanmina Co. has a fifty-two week low of $57.52 and a fifty-two week high of $91.12. The company 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 firm has a 50-day simple moving average of $82.08 and a 200 day simple moving average of $75.34. 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 announced that its board has authorized a stock buyback program on Monday, January 27th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SANM. Craig Hallum increased 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. StockNews.com cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Bank of America raised Sanmina from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $58.00 to $92.00 in a research note on Wednesday, January 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SANM. Norges Bank bought a new stake in Sanmina during the 4th quarter worth approximately $48,823,000. Franklin Resources Inc. boosted its stake in Sanmina by 39.6% in the fourth 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 in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Sanmina during the fourth quarter worth $34,868,000. JPMorgan Chase & Co. increased its stake in shares of Sanmina by 255.9% in the third quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker’s stock valued at $34,903,000 after buying an additional 366,653 shares in the last quarter. Finally, Weiss Asset Management LP raised its holdings in shares of Sanmina by 590.7% in 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. Institutional investors own 92.71% of the company’s stock.

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.