Strs Ohio Cuts Stake in Plexus Corp. (PLXS)
Strs Ohio lessened its holdings in Plexus Corp. (NASDAQ:PLXS) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,300 shares of the technology company’s stock after selling 12,200 shares during the quarter. Strs Ohio owned 0.24% of Plexus Corp. worth $4,503,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Riverhead Capital Management LLC raised its position in Plexus Corp. by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after acquiring an additional 966 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Plexus Corp. during the first quarter worth $200,000. SG Americas Securities LLC raised its position in Plexus Corp. by 20.0% during the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after acquiring an additional 609 shares in the last quarter. Neuberger Berman Group LLC raised its position in Plexus Corp. by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares in the last quarter. Finally, Amalgamated Bank raised its position in Plexus Corp. by 1.4% during the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after acquiring an additional 65 shares in the last quarter. 94.06% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub lowered shares of Plexus Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Deutsche Bank AG upped their price target on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, J P Morgan Chase & Co raised shares of Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 price target on the stock in a research report on Monday, August 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.86.
In other news, Director Ralf R. Boer sold 1,374 shares of Plexus Corp. stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $50.00, for a total transaction of $68,700.00. Following the sale, the director now directly owns 23,124 shares in the company, valued at approximately $1,156,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of Plexus Corp. stock in a transaction on Monday, August 21st. The stock was sold at an average price of $49.38, for a total value of $432,075.00. Following the sale, the chief accounting officer now owns 17,009 shares in the company, valued at $839,904.42. The disclosure for this sale can be found here. Insiders have sold a total of 20,474 shares of company stock worth $1,012,686 over the last quarter. Company insiders own 4.30% of the company’s stock.
Plexus Corp. (PLXS) opened at 61.27 on Tuesday. Plexus Corp. has a 12-month low of $45.21 and a 12-month high of $62.56. The firm has a 50 day moving average of $57.01 and a 200 day moving average of $53.47. The firm has a market capitalization of $2.06 billion, a P/E ratio of 20.69 and a beta of 0.95.
Plexus Corp. (NASDAQ:PLXS) last released its earnings results on Wednesday, October 25th. The technology company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $676.23 million. Plexus Corp. had a return on equity of 11.48% and a net margin of 4.43%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. On average, analysts forecast that Plexus Corp. will post $3.43 EPS for the current fiscal year.
Plexus Corp. Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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