Sanmina Corp director sells shares worth over $23,000 By Investing.com

San Jose, CA – In a recent transaction on March 18, David V. Hedley III, a director at Sanmina Corp (NASDAQ:SANM), sold 394 shares of the company’s common stock at a price of $60.01 per share, amounting to a total value of $23,643.94. This sale was executed as a direct ownership transaction, and post-sale, Hedley retains 5,774 shares in the electronics manufacturing services company.

Sanmina Corp, headquartered in San Jose, California, specializes in printed circuit boards and other related manufacturing services. The company has been a key player in the electronics manufacturing industry and continues to be watched by investors for its performance and strategic transactions by its executives.

The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission (SEC). The filing, which provides transparency into the trading activities of the company’s insiders, indicated an exact price for the shares sold. Following the sale, Hedley’s remaining ownership in Sanmina Corp represents his continued stake in the company’s future.

Investors often monitor insider sales as they may provide insights into an executive’s perspective on the company’s current valuation and future prospects. However, it’s important to note that there can be various reasons for an insider to sell shares, and such transactions do not necessarily indicate a lack of confidence in the company.

For those interested in Sanmina Corp’s stock movements and insider transactions, the latest details are always accessible through the SEC’s filings, providing a clear view of the activities that insiders are engaging in, including acquisitions and disposals of company stock.

InvestingPro Insights

Amid recent insider sales at Sanmina Corp (NASDAQ:SANM), investors and market watchers are keeping a close eye on the company’s financial health and stock performance. As per the latest InvestingPro data, Sanmina Corp holds a market capitalization of approximately $3.3 billion, with a P/E ratio standing at 12.41, which adjusts to a slightly lower 11.78 when considering the last twelve months as of Q1 2024. Despite a slight revenue decline of 0.76% over the last twelve months, the company’s gross profit margin has maintained at 8.38%.

Sanmina’s stock has experienced a notable dip over the last week, with a -9.99% price total return, yet it has shown resilience over the medium term with a 14.52% year-to-date price total return as of the same period. This could be a reflection of the company’s solid financial position, as highlighted by InvestingPro Tips. Sanmina is recognized for holding more cash than debt on its balance sheet and for being a prominent player in the Electronic Equipment, Instruments & Components industry.

Investors considering Sanmina’s stock should note that management has been actively repurchasing shares, which could signal confidence in the company’s value. Additionally, the company trades at a low revenue valuation multiple and has liquid assets that exceed short-term obligations, suggesting financial stability. For those seeking further insights, there are additional InvestingPro Tips available, including predictions on profitability and sales trends for the upcoming year. To access these valuable insights and more, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

With three analysts having revised their earnings upwards for the upcoming period, according to InvestingPro Tips, potential investors may find it worthwhile to delve deeper into Sanmina’s financials and market position. For comprehensive analysis and more expert tips, visit InvestingPro’s dedicated page for Sanmina Corp, which includes a total of 14 InvestingPro Tips that could further inform investment decisions.

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