Bank of New York Mellon Corp Sells 37,414 Shares of Sanmina Corporation (NASDAQ:SANM)

Bank of New York Mellon Corp lowered its stake in shares of Sanmina Corporation (NASDAQ:SANM) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 463,853 shares of the electronics maker’s stock after selling 37,414 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Sanmina worth $35,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its position in shares of Sanmina by 14.2% during the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker’s stock valued at $148,239,000 after purchasing an additional 243,258 shares during the period. Franklin Resources Inc. increased its position in shares of Sanmina by 39.6% during the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker’s stock valued at $139,407,000 after purchasing an additional 522,534 shares during the period. Geode Capital Management LLC increased its position in shares of Sanmina by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker’s stock valued at $116,277,000 after purchasing an additional 21,239 shares during the period. Earnest Partners LLC increased its position in shares of Sanmina by 1.8% during the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker’s stock valued at $81,256,000 after purchasing an additional 19,144 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of Sanmina by 9.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker’s stock valued at $76,060,000 after purchasing an additional 90,627 shares during the period. Institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SANM. Bank of America boosted their price objective on Sanmina from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday. Wall Street Zen upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th.

Sanmina Trading Up 0.7%

SANM stock opened at $104.92 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.61 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.60 and a beta of 1.17. Sanmina Corporation has a 1-year low of $61.52 and a 1-year high of $105.74. The business’s 50 day moving average is $89.95 and its 200-day moving average is $83.18.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.