Insider Selling: Sanmina Corp Director Unloads 8,439 Shares of Stock (SANM)
Sanmina Corp (NASDAQ:SANM) Director John Goldsberry unloaded 8,439 shares of Sanmina Corp stock on the open market in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $21.06, for a total value of $177,725.34. Following the completion of the sale, the director now directly owns 31,337 shares of the company’s stock, valued at approximately $659,957. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Sanmina Corp (NASDAQ:SANM) traded down 0.63% on Thursday, hitting $20.35. The stock had a trading volume of 856,432 shares. Sanmina Corp has a 52-week low of $12.54 and a 52-week high of $21.80. The stock’s 50-day moving average is $18.88 and its 200-day moving average is $16.91. The company has a market cap of $1.675 billion and a price-to-earnings ratio of 17.43.
Sanmina Corp (NASDAQ:SANM) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Sanmina Corp will post $1.81 earnings per share for the current fiscal year.
SANM has been the subject of a number of recent research reports. Analysts at Needham & Company LLC raised their price target on shares of Sanmina Corp from $22.00 to $24.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Sanmina Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $21.90 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Sanmina Corp in a research note on Wednesday, April 23rd. They now have a $20.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.30.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
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