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San Jose, CA – In a recent transaction on March 18, David V. Hedley III, Director of Sanmina Corp (NASDAQ:SANM), sold 394 shares of the company’s common stock at a price of $60.01 per share, for a total of value of $23,643.94. This sale was executed as a direct ownership transaction, and following the sale, Hedley retains 5,774 shares of the electronic manufacturing services company.
Sanmina Corp, based 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 filed with the Securities and Exchange Commission (SEC). The document, which guarantees transparency on the trading activities of company 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 track insider sales because they could provide insight into an executive’s view of the company’s current valuation and future prospects. However, it is 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 SEC filings, providing a clear view into the activities insiders are engaged in, including stock acquisitions and disposals of society.
Insights on InvestingPro
Amid the recent insider selling at Sanmina Corp (NASDAQ:SANM), investors and market watchers are keeping a close eye on the company’s financial health and stock performance. According to the latest data from InvestingPro, Sanmina Corp holds a market capitalization of approximately $3.3 billion, with a P/E ratio of 12.41, which adjusts to a slightly lower value of 11.78 when considering the trailing twelve months starting in the first quarter of 2024. Despite a slight revenue decline of 0.76% over the trailing twelve months, the company’s gross profit margin remained at 8.38%.
Sanmina stock has seen a notable decline over the past week, with a total price return of -9.99%, but has shown resilience in the medium term with a year-to-date total price return of 14.52% over the same period . This may reflect the company’s strong financial position, as highlighted by InvestingPro Tips. Sanmina is known for holding more cash than debt on its balance sheet and for being a major player in the electronic equipment, tools and components industry.
Investors considering Sanmina 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 near-term obligations, suggesting financial stability. For those looking for further insights, additional InvestingPro tips are available, including forecasts for profitability and sales trends for next year. To access this valuable information and more, use the coupon code PRONEWS24 to get an additional 10% discount on a one-year or two-year Pro and Pro+ subscription on InvestingPro.
With three analysts having revised their earnings upwards for the coming period, according to InvestingPro Tips, potential investors may find it useful to delve deeper into Sanmina’s financials and market position. For a full analysis and additional expert tips, visit InvestingPro’s dedicated page for Sanmina Corp, which includes a total of 14 InvestingPro tips that could further inform your investment decisions.
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