Principal Financial Group Inc. Has $18.85 Million Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Principal Financial Group Inc. trimmed its position in shares of Sanmina Co. (NASDAQ:SANM) by 6.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 275,304 shares of the electronics maker’s stock after selling 19,448 shares during the quarter. Principal Financial Group Inc.’s holdings in Sanmina were worth $18,845,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SANM. UniSuper Management Pty Ltd bought a new stake in Sanmina in the first quarter worth $741,000. Janus Henderson Group PLC increased its holdings in shares of Sanmina by 64.8% during the 1st quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker’s stock valued at $8,381,000 after acquiring an additional 52,995 shares during the last quarter. Atria Investments Inc bought a new position in shares of Sanmina in the 1st quarter valued at approximately $1,005,000. Oppenheimer Asset Management Inc. lifted its holdings in Sanmina by 40.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,692 shares of the electronics maker’s stock worth $2,298,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Caxton Associates LP boosted its position in Sanmina by 365.9% during the second quarter. Caxton Associates LP now owns 22,276 shares of the electronics maker’s stock worth $1,476,000 after purchasing an additional 17,495 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SANM shares. Craig Hallum boosted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com raised shares of Sanmina from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th.

Sanmina Trading Down 1.2 %

Shares of Sanmina stock opened at $77.65 on Friday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.36 and a beta of 0.89. Sanmina Co. has a 1 year low of $48.58 and a 1 year high of $86.05. The company’s fifty day simple moving average is $69.48 and its 200-day simple moving average is $68.42. The company has a current ratio of 2.05, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Sanmina Co. will post 4.84 EPS 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.