Bank of New York Mellon Corp Buys 59,849 Shares of Sanmina Co. (NASDAQ:SANM)

Bank of New York Mellon Corp raised its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 578,458 shares of the electronics maker's stock after buying an additional 59,849 shares during the quarter. Bank of New York Mellon Corp owned about 1.04% of Sanmina worth $38,323,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Sanmina by 108.4% in the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker's stock worth $33,000 after acquiring an additional 257 shares during the period. Principal Securities Inc. purchased a new position in Sanmina during the fourth quarter worth about $64,000. Delta Asset Management LLC TN acquired a new stake in Sanmina in the 4th quarter worth about $85,000. Quest Partners LLC acquired a new stake in Sanmina in the 4th quarter worth about $126,000. Finally, TFO Wealth Partners LLC increased its stake in shares of Sanmina by 70,240.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker's stock valued at $181,000 after acquiring an additional 3,512 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Sanmina from a "buy" rating to a "hold" rating in a report on Friday, July 19th.

Insider Buying and Selling

In related news, CEO Jure Sola sold 82,328 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the sale, the chief executive officer now directly owns 1,198,594 shares of the company's stock, valued at approximately $83,506,043.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Sanmina news, CEO Jure Sola sold 82,328 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the transaction, the chief executive officer now directly owns 1,198,594 shares of the company's stock, valued at approximately $83,506,043.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Krish A. Prabhu sold 4,803 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the transaction, the director now owns 19,166 shares in the company, valued at $1,291,596.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,320 shares of company stock valued at $7,294,883. Corporate insiders own 3.09% of the company's stock.

Sanmina Trading Down 3.9 %

SANM stock traded down $2.70 during trading on Tuesday, reaching $66.68. 668,742 shares of the stock traded hands, compared to its average volume of 437,333. The business's 50 day moving average price is $69.46 and its 200-day moving average price is $65.48. The firm has a market capitalization of $3.72 billion, a PE ratio of 15.80, a P/E/G ratio of 1.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. Sanmina Co. has a 52-week low of $43.40 and a 52-week high of $76.84.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.03). Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the company posted $1.37 earnings per share. The firm's revenue for the quarter was down 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sanmina Co. will post 4.24 earnings per share for the current year.

About Sanmina

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.