Insider Selling: Wayne Shortridge Sells 6,000 Shares of Sanmina Corp Stock (SANM)
Sanmina Corp (NASDAQ:SANM) Director Wayne Shortridge unloaded 6,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $23.85, for a total value of $143,100.00. Following the transaction, the director now directly owns 61,060 shares of the company’s stock, valued at approximately $1,456,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on SANM shares. 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.43.
Sanmina Corp (NASDAQ:SANM) traded down 1.04% on Wednesday, hitting $23.69. 442,719 shares of the company’s stock traded hands. Sanmina Corp has a 1-year low of $14.02 and a 1-year high of $25.25. The stock’s 50-day moving average is $23.29 and its 200-day moving average is $20.34. The company has a market cap of $1.958 billion and a P/E ratio of 20.03.
Sanmina Corp (NASDAQ:SANM) last released its earnings data on Monday, July 21st. The company reported $0.53 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.40 earnings per share. Sanmina Corp’s revenue was up 7.8% compared to the same quarter last year. 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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