Principal Financial Group Inc. Has $23.02 Million Stake in Sanmina Corporation (SANM)
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.
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.
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