Principal Financial Group Inc. Has $19.53 Million Holdings in Sanmina Co. (NASDAQ:SANM)

Principal Financial Group Inc. cut its holdings in Sanmina Co. (NASDAQ:SANM) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,752 shares of the electronics maker’s stock after selling 12,536 shares during the period. Principal Financial Group Inc. owned approximately 0.53% of Sanmina worth $19,527,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 257 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Sanmina in the fourth quarter valued at approximately $64,000. Delta Asset Management LLC TN bought a new position in shares of Sanmina in the fourth quarter valued at approximately $85,000. Innealta Capital LLC acquired a new stake in shares of Sanmina in the second quarter worth $116,000. Finally, Quest Partners LLC bought a new stake in shares of Sanmina during the 4th quarter worth $126,000. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Price Performance

Shares of Sanmina stock opened at $66.68 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. The company has a market cap of $3.64 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.90. The firm has a fifty day moving average price of $69.46 and a two-hundred day moving average price of $65.48. Sanmina Co. has a fifty-two week low of $43.40 and a fifty-two week high of $76.84.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.03). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business posted $1.37 EPS. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. Analysts expect that Sanmina Co. will post 4.24 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a report on Friday, July 19th.

Insider Transactions at Sanmina

In related news, Director Krish A. Prabhu sold 4,803 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total value of $323,674.17. Following the completion of the transaction, the director now directly owns 19,166 shares in the company, valued at $1,291,596.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the transaction, the executive vice president now owns 26,679 shares of the company’s stock, valued at $1,836,849.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Krish A. Prabhu sold 4,803 shares of Sanmina stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total value of $323,674.17. Following the sale, the director now directly owns 19,166 shares in the company, valued at $1,291,596.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,320 shares of company stock valued at $7,294,883. 3.09% of the stock is owned by corporate insiders.

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.