Principal Financial Group Inc. Decreases Holdings in Sanmina Corp (SANM)

Principal Financial Group Inc. trimmed its position in Sanmina Corp (NASDAQ:SANM) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,089 shares of the electronics maker’s stock after selling 6,188 shares during the quarter. Principal Financial Group Inc. owned 0.80% of Sanmina worth $14,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. LSV Asset Management grew its holdings in Sanmina by 0.5% in the 1st quarter. LSV Asset Management now owns 3,727,689 shares of the electronics maker’s stock valued at $97,479,000 after buying an additional 20,300 shares in the last quarter. Earnest Partners LLC grew its holdings in Sanmina by 65.4% in the 4th quarter. Earnest Partners LLC now owns 2,877,629 shares of the electronics maker’s stock valued at $94,962,000 after buying an additional 1,138,334 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in Sanmina by 47.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 2,671,358 shares of the electronics maker’s stock valued at $88,155,000 after buying an additional 861,239 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Sanmina by 113.9% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,240,210 shares of the electronics maker’s stock valued at $58,581,000 after buying an additional 1,193,064 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Sanmina by 21,142.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,045,356 shares of the electronics maker’s stock valued at $27,336,000 after buying an additional 1,040,435 shares in the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SANM opened at $30.15 on Wednesday. The firm has a market cap of $2.10 billion, a PE ratio of 10.51, a P/E/G ratio of 1.45 and a beta of 0.56. The company has a quick ratio of 0.90, a current ratio of 1.55 and a debt-to-equity ratio of 0.27. Sanmina Corp has a fifty-two week low of $24.60 and a fifty-two week high of $42.95.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, April 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.64 billion. Sanmina had a positive return on equity of 10.99% and a negative net margin of 0.99%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. research analysts expect that Sanmina Corp will post 1.76 earnings per share for the current year.

In other news, Director Wayne Shortridge sold 10,650 shares of the company’s stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $29.38, for a total transaction of $312,897.00. Following the completion of the sale, the director now directly owns 68,685 shares in the company, valued at approximately $2,017,965.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.12% of the company’s stock.

SANM has been the topic of a number of research reports. ValuEngine lowered Sanmina from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Zacks Investment Research lowered Sanmina from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. BidaskClub lowered Sanmina from a “buy” rating to a “hold” rating in a report on Thursday, March 29th. Citigroup raised Sanmina from a “neutral” rating to a “buy” rating in a report on Friday, April 13th. Finally, Needham & Company LLC upped their price objective on Sanmina from $33.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $35.25.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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