Principal Financial Group Inc. cut its holdings in Sanmina Corporation (NASDAQ:SANM) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 619,638 shares of the electronics maker’s stock after selling 6,842 shares during the period. Principal Financial Group Inc. owned about 0.82% of Sanmina Corporation worth $23,020,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Sanmina Corporation by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock worth $241,823,000 after acquiring an additional 65,223 shares in the last quarter. LSV Asset Management increased its stake in shares of Sanmina Corporation by 2.5% in the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock worth $142,169,000 after acquiring an additional 91,300 shares during the period. State Street Corp increased its stake in shares of Sanmina Corporation by 3.6% in the second quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock worth $73,977,000 after acquiring an additional 67,853 shares during the period. Earnest Partners LLC grew its position in Sanmina Corporation by 1.6% during the second quarter. Earnest Partners LLC now owns 1,735,490 shares of the electronics maker’s stock valued at $66,122,000 after buying an additional 26,667 shares during the period. Finally, Sadoff Investment Management LLC grew its position in Sanmina Corporation by 0.3% during the second quarter. Sadoff Investment Management LLC now owns 880,212 shares of the electronics maker’s stock valued at $33,536,000 after buying an additional 2,450 shares during the period. Institutional investors own 93.79% of the company’s stock.

In other news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total transaction of $372,100.00. Following the transaction, the vice president now directly owns 180,000 shares in the company, valued at approximately $6,697,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.96% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. Royal Bank Of Canada restated a “hold” rating and issued a $40.00 price objective on shares of Sanmina Corporation in a report on Friday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, July 25th. ValuEngine cut shares of Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Bank of America Corporation downgraded shares of Sanmina Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.25.

Shares of Sanmina Corporation (NASDAQ SANM) opened at $35.10 on Wednesday. The company has a market cap of $2,499.12, a PE ratio of 13.00, a P/E/G ratio of 0.97 and a beta of 0.77. Sanmina Corporation has a 12 month low of $30.81 and a 12 month high of $42.95. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.24.

Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Sanmina Corporation had a net margin of 2.02% and a return on equity of 12.27%. Sanmina Corporation’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. equities analysts anticipate that Sanmina Corporation will post 3 earnings per share for the current year.

Sanmina Corporation announced that its board has initiated a share buyback program on Monday, September 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the electronics maker to buy up to 77% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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Sanmina Corporation Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

Institutional Ownership by Quarter for Sanmina Corporation (NASDAQ:SANM)

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