Plexus Corp. (PLXS) Stake Lowered by Victory Capital Management Inc.
Victory Capital Management Inc. cut its stake in Plexus Corp. (NASDAQ:PLXS) by 39.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 893,421 shares of the technology company’s stock after selling 593,486 shares during the period. Victory Capital Management Inc. owned approximately 2.66% of Plexus Corp. worth $46,968,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Plexus Corp. during the first quarter valued at approximately $166,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Plexus Corp. during the first quarter valued at $200,000. SG Americas Securities LLC increased its stake in shares of Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock valued at $211,000 after buying an additional 609 shares during the last quarter. Appleton Group LLC acquired a new stake in shares of Plexus Corp. during the first quarter valued at $211,000. Finally, State of Alaska Department of Revenue increased its stake in shares of 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 valued at $215,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.
Shares of Plexus Corp. (PLXS) opened at 51.15 on Tuesday. The firm has a 50 day moving average of $52.28 and a 200-day moving average of $53.83. The stock has a market capitalization of $1.72 billion, a P/E ratio of 17.27 and a beta of 0.93. Plexus Corp. has a 12 month low of $44.35 and a 12 month high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $618.80 million during the quarter, compared to analysts’ expectations of $608.95 million. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The company’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current year.
Several equities research analysts recently weighed in on PLXS shares. BidaskClub downgraded shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research raised shares of Plexus Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. ValuEngine downgraded shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 target price (up from $50.00) on shares of Plexus Corp. in a research note on Friday, July 21st. Finally, Deutsche Bank AG upped their target price on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Plexus Corp. has an average rating of “Hold” and an average price target of $57.88.
In other Plexus Corp. news, Chairman Dean A. Foate sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $53.33, for a total transaction of $266,650.00. Following the completion of the sale, the chairman now owns 247,142 shares of the company’s stock, valued at $13,180,082.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $49.46, for a total value of $511,911.00. Following the sale, the chief accounting officer now directly owns 17,009 shares of the company’s stock, valued at approximately $841,265.14. The disclosure for this sale can be found here. Insiders have sold 95,580 shares of company stock valued at $5,129,042 in the last ninety days. Company insiders own 4.30% of the company’s stock.
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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