Insider Selling: Sanmina Co. (NASDAQ:SANM) CEO Sells 82,328 Shares of Stock

Sanmina Co. (NASDAQ:SANM) CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the completion of the transaction, the chief executive officer now directly owns 1,198,594 shares in the company, valued at $83,506,043.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jure Sola also recently made the following trade(s):

• On Monday, August 12th, Jure Sola sold 1 shares of Sanmina stock. The shares were sold at an average price of $69.00, for a total value of $69.00.

Sanmina Trading Up 1.3 %

SANM traded up $0.86 during trading hours on Tuesday, reaching $69.00. 720,162 shares of the company’s stock traded hands, compared to its average volume of 440,751. The firm has a 50-day moving average price of $68.61 and a 200 day moving average price of $64.36. Sanmina Co. has a 52-week low of $43.40 and a 52-week high of $76.84. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.85 billion, a PE ratio of 16.11, a PEG ratio of 1.85 and a beta of 0.92.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. As a group, sell-side analysts predict that Sanmina Co. will post 4.24 EPS for the current fiscal year.

Institutional Trading of Sanmina

Several large investors have recently added to or reduced their stakes in SANM. BNP Paribas Financial Markets raised its holdings in Sanmina by 75.9% in the 4th quarter. BNP Paribas Financial Markets now owns 88,207 shares of the electronics maker’s stock worth $4,531,000 after purchasing an additional 38,047 shares during the period. UniSuper Management Pty Ltd purchased a new position in Sanmina in the first quarter worth approximately $741,000. Wedge Capital Management L L P NC grew its position in Sanmina by 49.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 115,653 shares of the electronics maker’s stock worth $5,941,000 after acquiring an additional 38,286 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Sanmina by 32.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 75,521 shares of the electronics maker’s stock worth $4,696,000 after buying an additional 18,360 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Sanmina by 64.8% during the first quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker’s stock worth $8,381,000 after buying an additional 52,995 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com cut Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Craig Hallum reissued a “hold” rating and issued a $62.00 target price on shares of Sanmina in a research report on Tuesday, April 30th.

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.