The Insider Selling: Sanmina Corporation (SANM) SVP Sells $2,032,303.34 in Stock, Report finds

Shares of Sanmina Corporation (NASDAQ:SANM) opened at 40.25 on Monday. Sanmina Corporation has a 52 week low of $19.13 and a 52 week high of $41.15. The firm has a market cap of $2.99 billion, a PE ratio of 15.23 and a beta of 1.18. The firm has a 50-day moving average of $37.09 and a 200-day moving average of $31.06.

Sanmina Corporation (NASDAQ:SANM) SVP David Robert Anderson sold 50,833 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $39.98, for a total transaction of $2,032,303.34. Following the sale, the senior vice president now directly owns 32,833 shares of the company’s stock, valued at approximately $1,312,663.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, January 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company earned $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Sanmina Corporation had a net margin of 3.08% and a return on equity of 11.57%. Sanmina Corporation’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. On average, analysts expect that Sanmina Corporation will post $2.97 EPS for the current year.

Several brokerages recently commented on SANM. B. Riley restated a “buy” rating and set a $31.00 target price on shares of Sanmina Corporation in a report on Saturday, November 5th. Needham & Company LLC increased their target price on shares of Sanmina Corporation from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Zacks Investment Research upgraded shares of Sanmina Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 3rd. RBC Capital Markets restated a “hold” rating and set a $39.00 target price on shares of Sanmina Corporation in a report on Tuesday, January 31st. Finally, Cross Research cut shares of Sanmina Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.00.

Several hedge funds have recently added to or reduced their stakes in SANM. Elkfork Partners LLC bought a new stake in Sanmina Corporation during the fourth quarter valued at $115,000. BlackRock Japan Co. Ltd raised its stake in Sanmina Corporation 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. Crow Point Partners LLC bought a new stake in Sanmina Corporation during the third quarter valued at $141,000. Fuller & Thaler Asset Management Inc. raised its stake in Sanmina Corporation by 266.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,500 shares of the company’s stock valued at $157,000 after buying an additional 4,000 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Sanmina Corporation during the fourth quarter valued at $204,000. Institutional investors own 93.88% of the company’s stock.

Sanmina Corporation Company Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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