Plexus Corp. (PLXS) Shares Sold by New York State Teachers Retirement System
New York State Teachers Retirement System decreased its stake in Plexus Corp. (NASDAQ:PLXS) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,175 shares of the technology company’s stock after selling 3,200 shares during the period. New York State Teachers Retirement System owned 0.30% of Plexus Corp. worth $5,618,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in PLXS. BlackRock Inc. lifted its holdings in shares of Plexus Corp. by 50,519.1% in the 1st quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock worth $246,644,000 after purchasing an additional 4,258,763 shares during the last quarter. FMR LLC lifted its holdings in shares of Plexus Corp. by 546.1% in the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock worth $58,440,000 after purchasing an additional 939,589 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Plexus Corp. in the 2nd quarter worth approximately $22,236,000. Franklin Resources Inc. bought a new stake in shares of Plexus Corp. in the 2nd quarter worth approximately $12,449,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Plexus Corp. by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 3,256,888 shares of the technology company’s stock worth $188,249,000 after purchasing an additional 207,360 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on PLXS. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Citigroup Inc. raised their price target on Plexus Corp. from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. J P Morgan Chase & Co downgraded Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Tuesday, October 10th. ValuEngine raised Plexus Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $54.00 price target on shares of Plexus Corp. in a report on Tuesday, September 12th. 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 company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $57.86.
Shares of Plexus Corp. (NASDAQ PLXS) opened at $61.07 on Friday. Plexus Corp. has a 1 year low of $47.55 and a 1 year high of $62.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06. The company has a market capitalization of $2,045.65, a P/E ratio of 18.87 and a beta of 0.90.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. Plexus Corp. had a return on equity of 11.48% and a net margin of 4.43%. The firm had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $676.23 million. During the same period last year, the firm earned $0.82 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. equities analysts anticipate that Plexus Corp. will post 3.41 earnings per share for the current year.
In related news, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the firm’s stock in a transaction that occurred 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 directly owns 17,009 shares in the company, valued at approximately $839,904.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven J. Frisch sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.59, for a total value of $302,950.00. Following the completion of the sale, the vice president now owns 22,978 shares in the company, valued at $1,392,237.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,932 shares of company stock worth $7,408,752. 4.30% of the stock is owned by insiders.
Plexus Corp. Company 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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