Principal Financial Group Inc. Acquires 30,503 Shares of Sanmina Corporation (SANM)
Principal Financial Group Inc. boosted its holdings in shares of Sanmina Corporation (NASDAQ:SANM) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 626,480 shares of the electronics maker’s stock after buying an additional 30,503 shares during the period. Principal Financial Group Inc. owned about 0.83% of Sanmina Corporation worth $23,869,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Globeflex Capital L P acquired a new stake in Sanmina Corporation during the first quarter worth $401,000. Comerica Bank boosted its stake in Sanmina Corporation by 5.8% during the first quarter. Comerica Bank now owns 83,320 shares of the electronics maker’s stock worth $3,212,000 after buying an additional 4,539 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Sanmina Corporation by 2.1% during the first quarter. Wells Fargo & Company MN now owns 531,561 shares of the electronics maker’s stock worth $21,580,000 after buying an additional 10,862 shares in the last quarter. Swiss National Bank boosted its stake in Sanmina Corporation by 1.5% during the first quarter. Swiss National Bank now owns 121,600 shares of the electronics maker’s stock worth $4,937,000 after buying an additional 1,800 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Sanmina Corporation by 98.2% during the first quarter. Bank of America Corp DE now owns 758,708 shares of the electronics maker’s stock worth $30,804,000 after buying an additional 375,871 shares in the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.
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A number of equities research analysts have weighed in on the stock. Bank of America Corporation reiterated a “buy” rating and set a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday, June 15th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, July 25th. ValuEngine upgraded shares of Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price target on shares of Sanmina Corporation in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $42.80.
In other news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the sale, the vice president now directly owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 30,000 shares of company stock worth $1,125,600. 4.96% of the stock is currently owned by insiders.
Sanmina Corporation (NASDAQ:SANM) opened at 36.50 on Tuesday. Sanmina Corporation has a one year low of $26.54 and a one year high of $42.95. The firm’s 50 day moving average price is $36.41 and its 200-day moving average price is $38.12. The company has a market capitalization of $2.75 billion, a PE ratio of 13.33 and a beta of 0.78.
Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.01. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Equities analysts forecast that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
Sanmina Corporation Company 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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