345,828 Shares in Sanmina Corporation $SANM Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 345,828 Sanmina shares in the second quarter, valued at approximately $87.5 million, giving it a 0.65% stake. Institutional investors collectively own 92.71% of the company.
• Sanmina reported strong quarterly results, with EPS of $3.31 beating estimates of $2.77 and revenue of $3.46 billion exceeding expectations. Revenue increased 69.7% year over year.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $198.33, although JPMorgan lowered its target to $260 and maintained a neutral rating.

Bank of New York Mellon Corp bought a new stake in Sanmina Corporation (NASDAQ:SANM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 345,828 shares of the electronics maker's stock, valued at approximately $87,522,000. Bank of New York Mellon Corp owned 0.65% of Sanmina as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. ANB Bank raised its position in shares of Sanmina by 3.2% during the 1st quarter. ANB Bank now owns 1,645 shares of the electronics maker's stock valued at $213,000 after acquiring an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Sanmina by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,048 shares of the electronics maker's stock valued at $136,000 after purchasing an additional 54 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Sanmina by 1.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,337 shares of the electronics maker's stock worth $562,000 after purchasing an additional 69 shares during the last quarter. Vise Technologies Inc. grew its stake in shares of Sanmina by 2.0% during the third quarter. Vise Technologies Inc. now owns 3,625 shares of the electronics maker's stock worth $417,000 after purchasing an additional 71 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Sanmina by 3.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,274 shares of the electronics maker's stock valued at $295,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Insider Buying and Selling at Sanmina

In other news, CFO Jonathan P. Faust sold 10,076 shares of Sanmina stock in a transaction on Friday, May 29th. The shares were sold at an average price of $265.80, for a total transaction of $2,678,200.80. Following the transaction, the chief financial officer owned 77,000 shares in the company, valued at approximately $20,466,600. The trade was a 11.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SANM. JPMorgan Chase & Co. cut their price target on shares of Sanmina from $275.00 to $260.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 28th. Zacks Research raised shares of Sanmina from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, Weiss Ratings cut Sanmina from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $198.33.

Sanmina Trading Up 3.1%

Shares of SANM stock opened at $191.11 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. The stock has a market cap of $10.24 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 0.65 and a beta of 1.59. The stock has a 50 day simple moving average of $211.87 and a 200 day simple moving average of $192.24. Sanmina Corporation has a 1 year low of $110.44 and a 1 year high of $288.68.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, July 27th. The electronics maker reported $3.31 EPS for the quarter, beating the consensus estimate of $2.77 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.40 billion. Sanmina had a net margin of 2.41% and a return on equity of 19.08%. The business's revenue for the quarter was up 69.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 EPS. Sanmina has set its Q4 2026 guidance at 3.050-3.350 EPS and its FY 2026 guidance at 11.900-12.200 EPS. On average, research analysts predict that Sanmina Corporation will post 10.41 earnings per share for the current fiscal year.

About Sanmina

Sanmina Corporation is a leading global electronics manufacturing services (EMS) provider specializing in the design, production and end-to-end supply chain solutions for complex electronic products. Founded in 1980, the company has built a reputation for delivering high-reliability manufacturing across a wide range of industries, including communications, computing, aerospace and defense, medical, automotive and industrial sectors.

Sanmina's core offerings encompass product design and engineering support, precision PCB fabrication and assembly, system integration, testing, and final system deployment.

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