Metropolitan Life Insurance Co. NY Has $1.29 Million Position in Plexus Corp. (PLXS)

Metropolitan Life Insurance Co. NY reduced its position in shares of Plexus Corp. (NASDAQ:PLXS) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 22,307 shares of the technology company’s stock after selling 526 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Plexus Corp. were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of Plexus Corp. during the first quarter worth $166,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Plexus Corp. during the first quarter worth $200,000. Appleton Group LLC bought a new stake in shares of Plexus Corp. during the first quarter worth $211,000. SG Americas Securities LLC boosted 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 worth $211,000 after buying an additional 609 shares during the period. Finally, State of Alaska Department of Revenue boosted 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 worth $215,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 94.92% of the company’s stock.

Plexus Corp. (NASDAQ:PLXS) opened at 54.78 on Tuesday. Plexus Corp. has a 12-month low of $43.56 and a 12-month high of $58.74. The company has a market cap of $1.84 billion, a PE ratio of 18.49 and a beta of 0.93. The company has a 50-day moving average price of $52.75 and a 200 day moving average price of $54.20.

Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. Plexus Corp.’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. On average, analysts forecast that Plexus Corp. will post $3.22 EPS for the current fiscal year.

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A number of analysts have weighed in on the company. Zacks Investment Research cut Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. BidaskClub cut Plexus Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. J P Morgan Chase & Co assumed coverage on Plexus Corp. in a report on Tuesday, April 4th. They set a “neutral” rating and a $65.00 target price on the stock. ValuEngine cut Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, Citigroup Inc. increased their target price on Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.25.

In related news, insider Oliver K. Mihm sold 2,749 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $54.87, for a total transaction of $150,837.63. Following the sale, the insider now owns 6,223 shares in the company, valued at approximately $341,456.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oliver K. Mihm sold 1,300 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $53.80, for a total value of $69,940.00. Following the sale, the insider now owns 6,223 shares in the company, valued at approximately $334,797.40. The disclosure for this sale can be found here. Insiders have sold a total of 16,449 shares of company stock worth $872,778 in the last 90 days. 4.30% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Plexus Corp. (NASDAQ:PLXS)

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