Navitas stock soars as company advances 800V tech for NVIDIA AI platforms
In a recent transaction reported to the Securities and Exchange Commission, Hedley David V III, a director at Sanmina Corp (NASDAQ:SANM), sold a portion of his holdings in the company. On March 18, Mr. Hedley sold 302 shares of Sanmina Corp common stock at a price of $75.45 per share, amounting to a total of $22,785. The transaction comes as Sanmina, currently valued at $4.26 billion, maintains strong financial health with a "Good" rating according to InvestingPro analysis. This transaction followed an acquisition on March 17, where he acquired 2,496 shares at $76.12 per share, totaling approximately $189,995. After these transactions, Mr. Hedley’s direct ownership stands at 7,364 shares. These movements are part of routine adjustments to his portfolio, as noted in the filing. The company notably holds more cash than debt on its balance sheet and has been actively buying back shares, according to InvestingPro data, which offers 8 additional key insights about Sanmina’s financial position in its comprehensive Pro Research Report.
In other recent news, Sanmina Corporation reported its Q1 2025 earnings, meeting analyst expectations with an earnings per share (EPS) of $1.44 and revenue slightly exceeding forecasts at $2.01 billion. This represents a 7% year-over-year revenue growth, demonstrating stable performance despite broader market challenges. Sanmina’s continued investment in cloud infrastructure capabilities and efforts to reduce inventory by approximately 5% year-over-year were notable aspects of their strategy. The company projects high single-digit revenue growth for fiscal 2025, with EPS expected to grow faster than revenue, showcasing confidence in its future performance.
Additionally, Sanmina announced the appointment of Michael J. Loparco to its Board of Directors, bringing over 25 years of experience in technical and global manufacturing businesses. Loparco’s expertise in growth, innovation, and supply chain management is expected to contribute to Sanmina’s strategic initiatives. Furthermore, the company authorized an additional $300 million in share repurchases, reflecting its strategic capital allocation priorities. These developments highlight Sanmina’s focus on growth, operational efficiency, and shareholder value.
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