Sanmina Corp (NASDAQ:SANM) director Eugene A. Delaney has sold shares worth approximately $466,089, according to a recent SEC filing. The transaction, dated May 9, 2024, involved the sale of 7,181 shares of common stock at a weighted average price of $64.906, with individual sale prices ranging from $64.90 to $64.97 per share.
The filing also revealed that on the same day, Delaney acquired the same number of shares through the exercise of options at a price of $24.14 per share, totaling $173,349. These transactions are part of the routine financial disclosures made by company insiders, providing transparency to the market and allowing investors to see the trading activities of senior members of the company.
Following the sale, Delaney's ownership in Sanmina Corp stands at 100,887 shares of common stock. It should be noted that the options exercised by Delaney were fully vested at the time of the transaction, as indicated by the footnotes in the SEC filing.
Sanmina Corp, a leading manufacturer in the printed circuit boards industry, continues to be closely watched by investors, who often look to insider transactions as one of many factors to gauge the financial health and prospects of a company. Insider sales and purchases can provide valuable insights, although they do not necessarily indicate the future performance of a company's stock.
Investors interested in Sanmina Corp's stock can follow its performance on the NASDAQ under the ticker symbol SANM.
InvestingPro Insights
As Sanmina Corp (NASDAQ:SANM) makes headlines with insider stock transactions, investors seeking a deeper understanding of the company's financial health can look to InvestingPro for real-time data and expert analysis. Here are some key metrics and InvestingPro Tips that could shed light on Sanmina's current position:
Sanmina's market capitalization stands at a solid $3.6 billion, reflecting the size and scale of the company within the electronic equipment and components sector. With a Price/Earnings (P/E) ratio of 14.12 over the last twelve months as of Q2 2024, the company is trading at a level that suggests investors are confident in its earnings potential relative to its share price.
Despite a challenging environment with a reported revenue decline of 10.71% over the last twelve months as of Q2 2024, Sanmina holds a strong balance sheet. One of the InvestingPro Tips highlights that the company holds more cash than debt, which is a reassuring sign for investors concerned about financial stability. Additionally, the company's gross profit margin stands at 8.44%, which, while not robust, indicates that Sanmina is still able to maintain profitability.
Investors might also be interested in the company's share performance, with a significant 6-month price total return of 36.3% as of the latest data point in 2024. This suggests a bullish trend in investor sentiment over the recent period. Moreover, management's aggressive share buybacks, as noted in an InvestingPro Tip, could be a signal of confidence in the company's valuation and future prospects.
For those considering an investment in Sanmina, it's worth noting that the company is a prominent player in its industry and is trading at a low revenue valuation multiple, which could indicate an undervalued stock. Additionally, Sanmina is predicted to be profitable this year, according to analyst forecasts.
To explore these insights in greater detail and to access even more exclusive InvestingPro Tips, investors can visit https://www.investing.com/pro/SANM. There are currently 13 additional tips listed on InvestingPro that could provide valuable guidance. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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