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

Principal Financial Group Inc. lessened its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Sanmina by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker's stock valued at $444,876,000 after acquiring an additional 45,918 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Sanmina by 8.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker's stock valued at $77,399,000 after purchasing an additional 86,492 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Sanmina by 14.0% during the second quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker's stock valued at $57,977,000 after buying an additional 107,474 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Sanmina by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker's stock valued at $38,323,000 after purchasing an additional 59,849 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Sanmina by 1.4% during the 3rd quarter. New York State Common Retirement Fund now owns 357,105 shares of the electronics maker's stock valued at $24,444,000 after buying an additional 4,943 shares during the period. 92.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Craig Hallum increased their target price on Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. StockNews.com raised shares of Sanmina from a "hold" rating to a "buy" rating in a report on Thursday, November 7th.

Sanmina Stock Performance

Shares of NASDAQ SANM traded down $1.12 during trading on Friday, hitting $76.53. The company had a trading volume of 71,948 shares, compared to its average volume of 426,675. The stock has a 50 day simple moving average of $69.72 and a 200 day simple moving average of $68.48. The firm has a market capitalization of $4.18 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.32 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 Co. has a 12 month low of $48.58 and a 12 month high of $86.05.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $1.20 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Sanmina Co. will post 4.84 earnings per share for the current year.

Sanmina Profile

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.