Plexus Corp. (PLXS) Holdings Reduced by Public Sector Pension investment Board
Public Sector Pension investment Board decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 28.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,442 shares of the technology company’s stock after selling 6,800 shares during the period. Public Sector Pension investment Board owned 0.05% of Plexus Corp. worth $917,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Riverhead Capital Management LLC lifted its holdings in Plexus Corp. by 69.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after buying an additional 966 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Plexus Corp. in the 1st quarter worth approximately $166,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Plexus Corp. in the 1st quarter worth approximately $200,000. SG Americas Securities LLC grew its position in shares of Plexus Corp. by 20.0% in the 1st quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after buying an additional 609 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Plexus Corp. by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after buying an additional 31 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ralf R. Boer sold 1,374 shares of the firm’s 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 transaction, the director now owns 23,124 shares in the company, valued at $1,156,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $49.38, for a total value of $432,075.00. Following the transaction, the chief accounting officer now owns 17,009 shares in the company, valued at approximately $839,904.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,180 shares of company stock worth $4,840,872. Corporate insiders own 4.30% of the company’s stock.
Several equities analysts have recently issued reports on PLXS shares. J P Morgan Chase & Co raised Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 target price on the stock in a research note on Monday, August 28th. BidaskClub downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Deutsche Bank AG raised their price target on Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Zacks Investment Research raised Plexus Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Citigroup Inc. lifted their price target on shares of Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.88.
Plexus Corp. (PLXS) opened at 57.90 on Wednesday. The stock has a market cap of $1.95 billion, a PE ratio of 19.55 and a beta of 0.95. The stock has a 50 day moving average price of $52.67 and a 200-day moving average price of $53.22. Plexus Corp. has a 1-year low of $44.35 and a 1-year high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $618.80 million during the quarter, compared to analysts’ expectations of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. On average, equities analysts expect that Plexus Corp. will post $3.22 EPS for the current year.
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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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