While the stock repurchase program has no expiration date, the timing of the buyback and the number of shares that will be bought depend upon market conditions and other factors, the company said. Share repurchases will be made in the open market or in negotiated transactions off the market, but may be started or suspended at any time without prior notice.
At its closing stock price yesterday of $11.38 per share, the buyback would amount to some 10% of Sanmina's outstanding shares.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.