Bank of New York Mellon Corp Has $37.93 Million Stock Position in Sanmina Co. (NASDAQ:SANM)

Bank of New York Mellon Corp lessened its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 501,267 shares of the electronics maker's stock after selling 27,480 shares during the period. Bank of New York Mellon Corp owned approximately 0.92% of Sanmina worth $37,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Sanmina by 255.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 509,906 shares of the electronics maker's stock worth $34,903,000 after buying an additional 366,653 shares in the last quarter. Weiss Asset Management LP grew its position in Sanmina by 590.7% in the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker's stock valued at $26,090,000 after acquiring an additional 325,974 shares during the period. Global Alpha Capital Management Ltd. raised its stake in Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker's stock worth $63,138,000 after acquiring an additional 149,600 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Sanmina by 88.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 264,829 shares of the electronics maker's stock valued at $20,040,000 after acquiring an additional 124,190 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Sanmina by 36.7% in the 3rd quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker's stock valued at $27,524,000 after purchasing an additional 107,906 shares in the last quarter. Institutional investors own 92.71% of the company's stock.

Remove Ads

Sanmina Price Performance

Sanmina stock traded down $1.42 on Monday, reaching $74.87. The company's stock had a trading volume of 9,802 shares, compared to its average volume of 422,604. The business's fifty day moving average price is $82.44 and its 200 day moving average price is $76.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.29 and a beta of 0.85. Sanmina Co. has a twelve month low of $57.52 and a twelve month high of $91.12.

Sanmina declared that its Board of Directors has initiated a stock repurchase plan on Monday, January 27th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SANM shares. StockNews.com cut shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $58.00 to $92.00 in a report on Wednesday, January 29th.

Insider Buying and Selling

In other news, Director Mario M. Rosati sold 11,391 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the transaction, the director now owns 80,295 shares of the company's stock, valued at $6,906,975.90. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eugene A. Delaney sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $83.50, for a total value of $835,000.00. Following the completion of the transaction, the director now owns 77,120 shares in the company, valued at approximately $6,439,520. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,103 shares of company stock worth $2,798,896 in the last 90 days. Corporate insiders own 3.22% of the company's stock.

Sanmina 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.