Allianz Asset Management AG lowered its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,518 shares of the technology company’s stock after selling 2,230 shares during the period. Allianz Asset Management AG’s holdings in Plexus Corp. were worth $515,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of PLXS. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Plexus Corp. by 215.8% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 18,000 shares of the technology company’s stock valued at $842,000 after buying an additional 12,300 shares in the last quarter. Aperio Group LLC increased its position in Plexus Corp. by 28.0% in the third quarter. Aperio Group LLC now owns 8,020 shares of the technology company’s stock valued at $375,000 after buying an additional 1,753 shares during the period. First Trust Advisors LP increased its position in Plexus Corp. by 10.0% in the third quarter. First Trust Advisors LP now owns 44,653 shares of the technology company’s stock valued at $2,089,000 after buying an additional 4,053 shares during the period. Mutual of America Capital Management LLC increased its position in Plexus Corp. by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 51,237 shares of the technology company’s stock valued at $2,397,000 after buying an additional 257 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in Plexus Corp. during the third quarter valued at approximately $3,508,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Plexus Corp. (NASDAQ:PLXS) traded down 3.02% during mid-day trading on Friday, hitting $52.00. 652,467 shares of the stock were exchanged. Plexus Corp. has a 12 month low of $40.71 and a 12 month high of $58.74. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 19.68 and a beta of 1.00. The company has a 50-day moving average price of $56.86 and a 200-day moving average price of $53.00.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 19th. The technology company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. Plexus Corp. had a return on equity of 10.92% and a net margin of 3.50%. The firm earned $604.30 million during the quarter, compared to analyst estimates of $633.72 million. During the same quarter last year, the firm earned $0.55 EPS. Plexus Corp.’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Plexus Corp. will post $3.33 earnings per share for the current year.
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Several research firms have recently commented on PLXS. JPMorgan Chase & Co. began coverage on shares of Plexus Corp. in a report on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 target price on the stock. Zacks Investment Research cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Needham & Company LLC restated a “buy” rating and issued a $63.00 price target (up previously from $60.00) on shares of Plexus Corp. in a research report on Saturday, March 11th. Royal Bank of Canada boosted their price objective on shares of Plexus Corp. from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, January 20th. Finally, B. Riley reiterated a “neutral” rating and set a $50.00 price objective on shares of Plexus Corp. in a research report on Wednesday, January 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.17.
In other Plexus Corp. news, VP Steven J. Frisch sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $53.93, for a total transaction of $215,720.00. Following the completion of the sale, the vice president now owns 18,734 shares in the company, valued at approximately $1,010,324.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Dean A. Foate sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $54.00, for a total value of $81,000.00. Following the sale, the chairman now owns 232,856 shares of the company’s stock, valued at approximately $12,574,224. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,902 shares of company stock valued at $9,716,053. 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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