Insider Selling: Sanmina Corp. (SANM) Director Sells $686,877.10 in Stock
Sanmina Corp. (NASDAQ:SANM) Director Neil R. Bonke sold 23,933 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $28.70, for a total transaction of $686,877.10. Following the completion of the transaction, the director now owns 24,982 shares in the company, valued at $716,983.40. The transaction was disclosed in a filing with the SEC, which is available at this link.
Sanmina Corp. (NASDAQ:SANM) opened at 30.50 on Monday. The firm has a market cap of $2.24 billion, a P/E ratio of 12.82 and a beta of 1.18. Sanmina Corp. has a 1-year low of $16.31 and a 1-year high of $30.80. The stock’s 50 day moving average is $28.51 and its 200-day moving average is $27.05.
Sanmina Corp. (NASDAQ:SANM) last released its earnings results on Tuesday, November 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. Sanmina Corp. had a return on equity of 11.73% and a net margin of 2.90%. Sanmina Corp.’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts forecast that Sanmina Corp. will post $2.74 EPS for the current year.
SANM has been the topic of a number of recent research reports. B. Riley restated a “buy” rating and issued a $31.00 target price on shares of Sanmina Corp. in a report on Saturday, November 5th. Cross Research downgraded shares of Sanmina Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Sanmina Corp. in a research note on Thursday, July 28th. RBC Capital Markets reaffirmed an “in-line” rating and set a $29.00 price objective on shares of Sanmina Corp. in a research note on Tuesday, July 26th. Finally, Zacks Investment Research downgraded shares of Sanmina Corp. from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, July 26th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $29.38.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SANM. BlackRock Japan Co. Ltd raised its position in Sanmina Corp. by 6.3% in the third quarter. BlackRock Japan Co. Ltd now owns 3,783 shares of the company’s stock worth $108,000 after buying an additional 224 shares during the last quarter. Invictus RG raised its position in Sanmina Corp. by 3,198.6% in the second quarter. Invictus RG now owns 4,651 shares of the company’s stock worth $125,000 after buying an additional 4,510 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Sanmina Corp. by 454.5% in the third quarter. Nisa Investment Advisors LLC now owns 6,100 shares of the company’s stock worth $174,000 after buying an additional 5,000 shares during the last quarter. BlackRock Inc. raised its position in Sanmina Corp. by 42.0% in the first quarter. BlackRock Inc. now owns 8,223 shares of the company’s stock worth $193,000 after buying an additional 2,432 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in Sanmina Corp. during the second quarter worth about $230,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.
About Sanmina Corp.
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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