Principal Financial Group Inc. Has $22.22 Million Stock Position in Sanmina Corporation (NASDAQ:SANM)

Principal Financial Group Inc. boosted its holdings in Sanmina Corporation (NASDAQ:SANM - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 291,731 shares of the electronics maker's stock after acquiring an additional 5,885 shares during the period. Principal Financial Group Inc. owned 0.54% of Sanmina worth $22,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Sanmina by 34.1% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 437 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Sanmina by 10.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker's stock valued at $397,000 after acquiring an additional 476 shares during the period. JPMorgan Chase & Co. raised its stake in Sanmina by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock valued at $51,092,000 after acquiring an additional 165,285 shares during the period. Janney Montgomery Scott LLC raised its stake in Sanmina by 87.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker's stock valued at $785,000 after acquiring an additional 4,810 shares during the period. Finally, Squarepoint Ops LLC raised its stake in Sanmina by 60.0% in the 4th quarter. Squarepoint Ops LLC now owns 40,546 shares of the electronics maker's stock valued at $3,068,000 after acquiring an additional 15,197 shares during the period. Institutional investors own 92.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Bank of America increased their price objective on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday.

Sanmina Stock Performance

SANM stock traded down $0.17 during trading hours on Friday, hitting $104.17. 745,415 shares of the stock were exchanged, compared to its average volume of 418,059. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.57 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.60 and a beta of 1.17. The company has a 50-day simple moving average of $89.43 and a two-hundred day simple moving average of $82.95. Sanmina Corporation has a 12 month low of $61.52 and a 12 month high of $105.72.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. The firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.97 billion. Sanmina had a return on equity of 10.84% and a net margin of 3.09%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. On average, analysts forecast that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

About Sanmina

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.