Today, Insider Selling: Sanmina Corp. (SANM) Director Sold $614,567.90 in Stock

Today, Insider Selling: Sanmina Corp. (SANM) Director Sold $614,567.90 in Stock
Sanmina Corp. (NASDAQ:SANM) Director Jackie M. Ward sold 19,387 shares of Sanmina Corp. stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $31.70, for a total transaction of $614,567.90. Following the transaction, the director now directly owns 173,846 shares of the company’s stock, valued at $5,510,918.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Sanmina Corp. (NASDAQ:SANM) opened at 32.95 on Friday. Sanmina Corp. has a 52 week low of $16.31 and a 52 week high of $33.05. The firm has a market cap of $2.42 billion, a PE ratio of 13.84 and a beta of 1.18. The firm’s 50-day moving average is $29.29 and its 200 day moving average is $27.51.

Sanmina Corp. (NASDAQ:SANM) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Sanmina Corp. had a return on equity of 11.73% and a net margin of 2.90%. The firm earned $1.67 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that Sanmina Corp. will post $2.74 EPS for the current year.

Several large investors have recently modified their holdings of SANM. Louisiana State Employees Retirement System increased its stake in shares of Sanmina Corp. by 0.3% in the third quarter. Louisiana State Employees Retirement System now owns 32,700 shares of the company’s stock valued at $931,000 after buying an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Sanmina Corp. by 0.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 38,300 shares of the company’s stock valued at $1,090,000 after buying an additional 220 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of Sanmina Corp. by 6.3% in the third quarter. BlackRock Japan Co. Ltd now owns 3,783 shares of the company’s stock valued at $108,000 after buying an additional 224 shares in the last quarter. LPL Financial LLC increased its stake in shares of Sanmina Corp. by 2.6% in the third quarter. LPL Financial LLC now owns 9,224 shares of the company’s stock valued at $264,000 after buying an additional 238 shares in the last quarter. Finally, First Quadrant L P CA increased its stake in shares of Sanmina Corp. by 4.7% in the second quarter. First Quadrant L P CA now owns 13,500 shares of the company’s stock valued at $362,000 after buying an additional 600 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on SANM shares. B. Riley reaffirmed a “buy” rating and set a $31.00 target price on shares of Sanmina Corp. in a report on Monday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Sanmina Corp. in a report on Thursday, July 28th. Argus reissued a “buy” rating and issued a $33.00 price target on shares of Sanmina Corp. in a report on Thursday, July 28th. Zacks Investment Research raised shares of Sanmina Corp. from a “sell” rating to a “hold” rating in a report on Thursday, November 10th. Finally, Cross Research lowered shares of Sanmina Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.38.

Sanmina Corp. Company Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.

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