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

Principal Financial Group Inc. reduced its stake in Sanmina Co. (NASDAQ:SANM - Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 275,304 shares of the electronics maker's stock after selling 19,448 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Sanmina worth $18,845,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SANM. Wilmington Savings Fund Society FSB acquired a new position in Sanmina in the 3rd quarter valued at $32,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Sanmina by 24.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock valued at $56,000 after purchasing an additional 164 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sanmina by 88.5% in the third quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker's stock valued at $64,000 after purchasing an additional 437 shares during the last quarter. CWM LLC increased its stake in shares of Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker's stock worth $122,000 after purchasing an additional 513 shares during the period. Finally, KBC Group NV lifted its position in shares of Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker's stock worth $124,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SANM shares. StockNews.com raised Sanmina from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Craig Hallum raised 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.

Sanmina Price Performance

Sanmina stock traded down $1.54 during trading hours on Friday, hitting $76.64. 165,074 shares of the stock were exchanged, compared to its average volume of 417,557. Sanmina Co. has a 12 month low of $48.83 and a 12 month high of $86.05. The business's 50-day moving average is $76.58 and its two-hundred day moving average is $71.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.99. The stock has a market capitalization of $4.13 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.35 and a beta of 0.91.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The firm's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities research analysts expect that Sanmina Co. will post 4.84 EPS for the current fiscal 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.