Principal Financial Group Inc. reduced its stake in shares of Sanmina Corp. (NASDAQ:SANM) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 534,001 shares of the company’s stock after selling 12,500 shares during the period. Principal Financial Group Inc. owned about 0.72% of Sanmina Corp. worth $14,316,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of SANM. Aperio Group LLC acquired a new stake in Sanmina Corp. during the first quarter valued at $360,000. Virginia Retirement System acquired a new stake in Sanmina Corp. during the first quarter valued at $1,368,000. Teachers Advisors Inc. boosted its stake in Sanmina Corp. by 18.8% in the first quarter. Teachers Advisors Inc. now owns 761,823 shares of the company’s stock valued at $17,811,000 after buying an additional 120,582 shares during the last quarter. Prudential Financial Inc. boosted its stake in Sanmina Corp. by 19.1% in the first quarter. Prudential Financial Inc. now owns 1,498,419 shares of the company’s stock valued at $35,033,000 after buying an additional 240,010 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Sanmina Corp. by 42.0% in the first quarter. BlackRock Inc. now owns 8,223 shares of the company’s stock valued at $193,000 after buying an additional 2,432 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.
Shares of Sanmina Corp. (NASDAQ:SANM) traded down 1.09% during mid-day trading on Friday, reaching $29.09. The company’s stock had a trading volume of 320,941 shares. Sanmina Corp. has a 12 month low of $16.31 and a 12 month high of $29.45. The company’s 50-day moving average is $27.50 and its 200 day moving average is $25.99. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 5.79 and a beta of 1.46.
Sanmina Corp. (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 25th. The company reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. The firm earned $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. Sanmina Corp. had a net margin of 6.24% and a return on equity of 11.53%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. On average, equities analysts anticipate that Sanmina Corp. will post $2.50 EPS for the current year.
A number of research analysts have recently commented on SANM shares. B. Riley reiterated a “buy” rating and issued a $31.00 price target on shares of Sanmina Corp. in a research note on Sunday, July 31st. Craig Hallum cut Sanmina Corp. from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research note on Tuesday, July 26th. Argus reiterated a “buy” rating and issued a $33.00 price target on shares of Sanmina Corp. in a research note on Thursday, July 28th. Zacks Investment Research cut Sanmina Corp. from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, July 26th. Finally, RBC Capital Markets reiterated an “in-line” rating and issued a $29.00 price target on shares of Sanmina Corp. in a research note on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.30.
In other news, EVP Alan Mcwilliams Reid sold 10,000 shares of Sanmina Corp. stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $26.45, for a total transaction of $264,500.00. Following the completion of the sale, the executive vice president now directly owns 10,184 shares of the company’s stock, valued at approximately $269,366.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Goldsberry sold 13,178 shares of Sanmina Corp. stock in a transaction on Monday, August 29th. The stock was sold at an average price of $26.59, for a total transaction of $350,403.02. Following the sale, the director now directly owns 29,505 shares of the company’s stock, valued at $784,537.95. The disclosure for this sale can be found here. Insiders own 4.59% of the company’s stock.
Sanmina Corp. Company Profile
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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