Director Joseph Licata sells $5.6M in SANM shares near 52-week highs amid rapid price recovery
Joseph Licata, a director at Sanmina, divested over $5.6 million in shares across two transactions on the same day, liquidating roughly 30% of one holding and 26.5% of another. The timing is notable: the stock is trading at its 52-week high after a dramatic recovery, having surged substantially over recent months, which typically signals that insiders view current valuations as rich. While the company is profitable with solid revenue growth, the stock is trading at a stretched valuation multiple, suggesting the market is pricing in significant optimism. Licata's decision to sell into this strength—rather than accumulate—hints at concern about near-term downside or simply a rational rebalancing decision at inflated prices. This doesn't constitute a red flag on the company's fundamentals, but it does reflect skepticism from someone with direct board-level visibility into operations and strategy at current price levels.