Jackie M. Ward Sells 20,848 Shares of Sanmina Corp. (SANM) Stock
Sanmina Corp. (NASDAQ:SANM) Director Jackie M. Ward sold 20,848 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $31.87, for a total transaction of $664,425.76. Following the completion of the transaction, the director now owns 154,039 shares in the company, valued at approximately $4,909,222.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Sanmina Corp. (NASDAQ:SANM) opened at 32.95 on Friday. Sanmina Corp. has a one year low of $16.31 and a one year high of $33.05. The stock has a market capitalization of $2.42 billion, a price-to-earnings 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 released its earnings results on Tuesday, November 1st. The company reported $0.72 EPS for the quarter, topping the Zacks’ 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 quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Sanmina Corp. will post $2.74 EPS for the current year.
Several large investors have recently added to or reduced their stakes in SANM. Meeder Asset Management Inc. increased its stake in Sanmina Corp. by 48.5% in the second quarter. Meeder Asset Management Inc. now owns 26,668 shares of the company’s stock worth $713,000 after buying an additional 8,708 shares during the period. Adams Diversified Equity Fund Inc. purchased a new stake in Sanmina Corp. during the second quarter worth approximately $458,000. New York State Teachers Retirement System increased its stake in Sanmina Corp. by 7.0% in the second quarter. New York State Teachers Retirement System now owns 75,023 shares of the company’s stock worth $2,011,000 after buying an additional 4,900 shares during the period. Sadoff Investment Management LLC increased its stake in Sanmina Corp. by 27.2% in the second quarter. Sadoff Investment Management LLC now owns 890,075 shares of the company’s stock worth $23,863,000 after buying an additional 190,075 shares during the period. Finally, First Quadrant L P CA increased its stake in Sanmina Corp. by 4.7% in the second quarter. First Quadrant L P CA now owns 13,500 shares of the company’s stock worth $362,000 after buying an additional 600 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.
SANM has been the topic of several recent research reports. B. Riley reiterated a “buy” rating and issued a $31.00 price objective on shares of Sanmina Corp. in a research note on Monday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Sanmina Corp. in a report on Thursday, July 28th. Argus reissued a “buy” rating and issued a $33.00 target price 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 stock. The company presently has an average rating of “Hold” and an average price target of $29.38.
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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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