Bank of New York Mellon Corp Has $32.63 Million Position in Sanmina Co. (NASDAQ:SANM)

Bank of New York Mellon Corp trimmed its stake in Sanmina Co. (NASDAQ:SANM – Get Rating) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 708,214 shares of the electronics maker’s stock after selling 10,338 shares during the period. Bank of New York Mellon Corp’s holdings in Sanmina were worth $32,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its stake in shares of Sanmina by 76.4% in the 3rd quarter. CWM LLC now owns 545 shares of the electronics maker’s stock valued at $25,000 after buying an additional 236 shares during the period. Ronald Blue Trust Inc. acquired a new stake in Sanmina in the second quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new stake in Sanmina in the 3rd quarter valued at $43,000. US Bancorp DE increased its stake in Sanmina by 44.1% during the 3rd quarter. US Bancorp DE now owns 1,137 shares of the electronics maker’s stock valued at $53,000 after purchasing an additional 348 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Sanmina by 85.8% in the first quarter. Covestor Ltd now owns 2,473 shares of the electronics maker’s stock valued at $100,000 after buying an additional 1,142 shares in the last quarter. 91.22% of the stock is owned by institutional investors.

Sanmina Stock Performance

Shares of SANM stock opened at $57.29 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 1.02. The firm has a 50-day moving average of $60.47 and a 200-day moving average of $57.52. Sanmina Co. has a one year low of $36.35 and a one year high of $69.28. The company has a market cap of $3.34 billion, a P/E ratio of 12.24 and a beta of 1.17.

Sanmina (NASDAQ:SANM – Get Rating) last posted its quarterly earnings data on Monday, January 30th. The electronics maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.38 by $0.26. Sanmina had a net margin of 3.37% and a return on equity of 15.85%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue for the quarter was up 34.4% on a year-over-year basis.

Insider Buying and Selling

In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,616 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $65.30, for a total value of $562,624.80. Following the completion of the transaction, the executive vice president now owns 32,344 shares in the company, valued at approximately $2,112,063.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Brent Billinger sold 4,537 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $65.02, for a total transaction of $294,995.74. Following the completion of the sale, the senior vice president now owns 5,742 shares in the company, valued at approximately $373,344.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alan Mcwilliams Reid sold 8,616 shares of Sanmina stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $65.30, for a total transaction of $562,624.80. Following the completion of the sale, the executive vice president now directly owns 32,344 shares in the company, valued at approximately $2,112,063.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,371 shares of company stock worth $2,107,072. 3.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SANM has been the subject of several recent research reports. Craig Hallum boosted their target price on shares of Sanmina to $76.00 in a research report on Tuesday, November 15th. StockNews.com raised Sanmina from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 5th. Finally, Citigroup raised their target price on Sanmina to $65.00 in a report on Tuesday, November 15th.

Sanmina Profile

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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.