SAN JOSE, Calif., Sept. 18, 2017 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today announced that its Board of Directors has authorized a stock repurchase program of up to $200 million worth of the Company's common stock.
The new program will take effect upon completion of the Company's current program. As of today, approximately $53 million remains available under the current program approved by the Board in September 2016. Since the beginning of fiscal 2014, the Company has repurchased approximately 21 million shares for approximately $497 million.
The stock repurchase program has no expiration date. The timing of stock repurchases and the number of shares will depend upon the market conditions and other factors. Share repurchases, if any, will be made in the open market, through 10b5-1 programs or in negotiated transactions off the market. Repurchases under the program may be commenced or suspended at any time without prior notice.
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, storage, industrial, defense, medical, energy and industries that include embedded computing technologies such as, point of sale devices, casino gaming and automotive. Sanmina has facilities strategically located in key regions throughout the world. More information regarding the company is available at http://www.sanmina.com.
SOURCE Sanmina Corporation