Bank of New York Mellon Corp lowered its stake in Sanmina Corp (NASDAQ:SANM) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 874,883 shares of the electronics maker’s stock after selling 15,984 shares during the quarter. Bank of New York Mellon Corp owned 1.28% of Sanmina worth $25,633,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Adviser Investments LLC bought a new stake in Sanmina during the 1st quarter valued at $110,000. First Mercantile Trust Co. bought a new stake in Sanmina during the 1st quarter valued at $110,000. Vigilant Capital Management LLC bought a new stake in Sanmina during the 2nd quarter valued at $147,000. Campbell & CO Investment Adviser LLC bought a new stake in Sanmina during the 2nd quarter valued at $220,000. Finally, First Citizens Bank & Trust Co. bought a new stake in Sanmina during the 2nd quarter valued at $221,000. Institutional investors own 93.13% of the company’s stock.
Shares of SANM stock opened at $29.75 on Friday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.48 and a beta of 0.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.73. Sanmina Corp has a 12 month low of $24.60 and a 12 month high of $39.40.
Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 30th. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Sanmina had a positive return on equity of 10.28% and a negative net margin of 1.01%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. analysts forecast that Sanmina Corp will post 1.68 EPS for the current year.
A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 18th. Finally, Citigroup boosted their price target on shares of Sanmina from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Sanmina has an average rating of “Hold” and an average price target of $35.75.
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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