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

Bank of New York Mellon Corp lowered its position in Sanmina Corporation (NASDAQ:SANM - Free Report) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,853 shares of the electronics maker's stock after selling 37,414 shares during the period. Bank of New York Mellon Corp owned about 0.85% of Sanmina worth $35,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SANM. Principal Financial Group Inc. boosted its holdings in Sanmina by 2.1% during the first quarter. Principal Financial Group Inc. now owns 291,731 shares of the electronics maker's stock worth $22,224,000 after purchasing an additional 5,885 shares during the last quarter. Kendall Capital Management increased its position in shares of Sanmina by 3.1% during the 1st quarter. Kendall Capital Management now owns 6,395 shares of the electronics maker's stock worth $487,000 after purchasing an additional 190 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of Sanmina during the 1st quarter worth approximately $251,000. Illinois Municipal Retirement Fund boosted its holdings in shares of Sanmina by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 29,982 shares of the electronics maker's stock valued at $2,284,000 after buying an additional 1,133 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new position in shares of Sanmina in the first quarter valued at $2,185,000. 92.71% of the stock is currently owned by institutional investors.

Sanmina Price Performance

Sanmina stock traded down $1.84 during midday trading on Tuesday, reaching $103.08. The company's stock had a trading volume of 676,670 shares, compared to its average volume of 419,309. The stock has a market cap of $5.51 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. Sanmina Corporation has a 52 week low of $61.52 and a 52 week high of $106.45. The business has a 50-day moving average price of $89.95 and a 200-day moving average price of $83.18.

Sanmina (NASDAQ:SANM - Get Free Report) last posted 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. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a return on equity of 10.84% and a net margin of 3.09%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, sell-side analysts predict that Sanmina Corporation will post 5.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SANM. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Bank of America increased their price objective on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday.

Sanmina Company Profile

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.