Principal Financial Group Inc. Sells 12,536 Shares of Sanmina Co. (NASDAQ:SANM)

Principal Financial Group Inc. lowered its position in Sanmina Co. (NASDAQ:SANM - Free Report) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,752 shares of the electronics maker's stock after selling 12,536 shares during the quarter. Principal Financial Group Inc. owned approximately 0.53% of Sanmina worth $19,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Sanmina by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker's stock worth $444,876,000 after acquiring an additional 45,918 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its position in Sanmina by 10.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker's stock worth $46,460,000 after purchasing an additional 69,300 shares during the period. Assenagon Asset Management S.A. grew its holdings in Sanmina by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 643,251 shares of the electronics maker's stock valued at $39,997,000 after purchasing an additional 100,865 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Sanmina by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 583,257 shares of the electronics maker's stock valued at $29,962,000 after purchasing an additional 13,120 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sanmina by 11.5% in the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker's stock worth $38,323,000 after buying an additional 59,849 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Sanmina Stock Performance

Sanmina stock traded up $0.30 on Wednesday, reaching $66.98. 351,295 shares of the stock were exchanged, compared to its average volume of 436,826. The stock has a market cap of $3.66 billion, a PE ratio of 15.67, a PEG ratio of 1.89 and a beta of 0.90. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. Sanmina Co. has a twelve month low of $43.40 and a twelve month high of $76.84. The firm has a fifty day moving average price of $69.46 and a two-hundred day moving average price of $65.52.

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

Analysts Set New Price Targets

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

Insider Activity at Sanmina

In related news, CEO Jure Sola sold 82,328 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total value of $5,735,791.76. Following the sale, the chief executive officer now owns 1,198,594 shares of the company's stock, valued at $83,506,043.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jure Sola sold 82,328 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total value of $5,735,791.76. Following the sale, the chief executive officer now owns 1,198,594 shares of the company's stock, valued at $83,506,043.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total transaction of $585,225.00. Following the completion of the sale, the executive vice president now directly owns 26,679 shares in the company, valued at approximately $1,836,849.15. The disclosure for this sale can be found here. Insiders have sold a total of 104,320 shares of company stock valued at $7,294,883 over the last quarter. 3.09% of the stock is owned by company insiders.

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.