Sanmina Co. (NASDAQ:SANM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Sanmina Co. (NASDAQ:SANM) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,304 shares of the electronics maker’s stock after selling 19,448 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Sanmina worth $18,845,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after acquiring an additional 164 shares during the period. Innealta Capital LLC bought a new position in shares of Sanmina in the second quarter valued at approximately $116,000. CWM LLC increased its stake in shares of Sanmina by 40.5% during the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after acquiring an additional 513 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Sanmina by 16.3% during the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock worth $146,000 after purchasing an additional 299 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors.

Sanmina Price Performance

NASDAQ SANM opened at $77.65 on Friday. Sanmina Co. has a 1 year low of $48.58 and a 1 year high of $86.05. The business’s fifty day moving average is $69.48 and its two-hundred day moving average is $68.42. The stock has a market capitalization of $4.24 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Sanmina’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts forecast that Sanmina Co. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SANM has been the subject of a number of research reports. Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

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.