Teachers Advisors LLC Has $3.42 Million Holdings in Plexus Corp. (PLXS)
Teachers Advisors LLC reduced its position in Plexus Corp. (NASDAQ:PLXS) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,126 shares of the technology company’s stock after selling 950 shares during the quarter. Teachers Advisors LLC owned about 0.19% of Plexus Corp. worth $3,424,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLXS. Riverhead Capital Management LLC grew its holdings in Plexus Corp. by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after purchasing an additional 966 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Plexus Corp. in the first quarter worth $166,000. Cambridge Investment Research Advisors Inc. purchased a new position in Plexus Corp. in the first quarter worth $200,000. Neuberger Berman Group LLC grew its holdings in Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after purchasing an additional 31 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after purchasing an additional 609 shares during the last quarter. 93.47% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on PLXS. 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 report on Monday, August 28th. BidaskClub lowered shares of Plexus Corp. from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 price target on shares of Plexus Corp. in a report on Tuesday, September 12th. ValuEngine raised shares of Plexus Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Finally, Citigroup Inc. lifted their price target on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.00.
In related news, Director Ralf R. Boer sold 1,374 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $50.00, for a total value of $68,700.00. Following the transaction, the director now directly owns 23,124 shares of the company’s stock, valued at approximately $1,156,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd P. Kelsey sold 11,250 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total transaction of $619,762.50. Following the completion of the transaction, the chief executive officer now directly owns 57,175 shares in the company, valued at $3,149,770.75. The disclosure for this sale can be found here. Insiders sold a total of 90,180 shares of company stock worth $4,840,872 over the last ninety days. Insiders own 4.30% of the company’s stock.
Shares of Plexus Corp. (PLXS) opened at 58.65 on Monday. Plexus Corp. has a one year low of $44.35 and a one year high of $59.55. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 19.80 and a beta of 0.95. The stock’s 50 day moving average is $54.79 and its 200-day moving average is $53.30.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The company’s revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. On average, equities research analysts predict that Plexus Corp. will post $3.22 EPS for the current fiscal year.
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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