Insider Selling: Sanmina Corp Director Joseph G. Licata, Jr. Sells 38,034 Shares of Stock (SANM)
Sanmina Corp (NASDAQ:SANM) Director Joseph G. Licata, Jr. sold 38,034 shares of Sanmina Corp stock on the open market in a transaction dated Friday, August 8th. The shares were sold at an average price of $23.39, for a total transaction of $889,615.26. Following the transaction, the director now directly owns 50,091 shares of the company’s stock, valued at approximately $1,171,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at TheStreet raised their price target on shares of Sanmina Corp from $0.92 to $2.15 in a research note on Friday, July 25th. They now have an “average” rating on the stock. They noted that the move was a valuation call. Separately, analysts at Zacks upgraded shares of Sanmina Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 24th. They now have a $25.90 price target on the stock. Finally, analysts at Argus raised their price target on shares of Sanmina Corp from $25.00 to $28.00 in a research note on Tuesday, July 22nd. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.43.
Sanmina Corp (NASDAQ:SANM) traded up 1.07% on Monday, hitting $23.62. The stock had a trading volume of 551,278 shares. Sanmina Corp has a 52-week low of $14.02 and a 52-week high of $25.25. The stock has a 50-day moving average of $23.02 and a 200-day moving average of $19.73. The company has a market cap of $1.952 billion and a P/E ratio of 19.56.
Sanmina Corp (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Sanmina Corp will post $1.91 EPS for the current fiscal year.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
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