Rational Advisors LLC Buys New Position in Plexus Corp. (PLXS)
Rational Advisors LLC bought a new position in Plexus Corp. (NASDAQ:PLXS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,400 shares of the technology company’s stock, valued at approximately $312,000.
A number of other institutional investors have also modified their holdings of PLXS. Isthmus Partners LLC boosted its stake in Plexus Corp. by 0.3% in the third quarter. Isthmus Partners LLC now owns 15,508 shares of the technology company’s stock worth $716,000 after buying an additional 54 shares during the period. Suntrust Banks Inc. boosted its stake in Plexus Corp. by 1.7% in the first quarter. Suntrust Banks Inc. now owns 5,371 shares of the technology company’s stock worth $310,000 after buying an additional 92 shares during the period. State of Alaska Department of Revenue boosted its stake in Plexus Corp. by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,720 shares of the technology company’s stock worth $215,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Plexus Corp. by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,400 shares of the technology company’s stock worth $346,000 after buying an additional 120 shares during the period. Finally, Sii Investments Inc. WI raised its position in Plexus Corp. by 2.9% in the fourth quarter. Sii Investments Inc. WI now owns 6,989 shares of the technology company’s stock worth $378,000 after buying an additional 200 shares in the last quarter. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Plexus Corp. (NASDAQ PLXS) opened at 51.66 on Monday. The firm’s 50 day moving average is $51.69 and its 200-day moving average is $54.29. Plexus Corp. has a 52 week low of $41.13 and a 52 week high of $58.74. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 17.34 and a beta of 0.91.
Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 19th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.08. The business had revenue of $604.30 million for the quarter, compared to analyst estimates of $633.72 million. Plexus Corp. had a net margin of 4.01% and a return on equity of 11.10%. Plexus Corp.’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities research analysts predict that Plexus Corp. will post $3.23 EPS for the current year.
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PLXS has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $63.00 price objective (up previously from $60.00) on shares of Plexus Corp. in a research note on Saturday, March 11th. Zacks Investment Research lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $57.00 price target on shares of Plexus Corp. in a research report on Saturday, April 22nd. J P Morgan Chase & Co started coverage on shares of Plexus Corp. in a research report on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, BidaskClub cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.80.
In other Plexus Corp. news, Director Michael V. Schrock sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total transaction of $256,850.00. Following the transaction, the director now owns 28,298 shares in the company, valued at $1,453,668.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total transaction of $106,980.00. Following the transaction, the chief executive officer now owns 57,175 shares in the company, valued at approximately $3,058,290.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,000 shares of company stock worth $630,480. 4.30% of the stock is owned by insiders.
About Plexus Corp.
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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