Pacad Investment Ltd. trimmed its stake in Plexus Corp. (NASDAQ:PLXS) by 39.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,200 shares of the technology company’s stock after selling 2,100 shares during the quarter. Pacad Investment Ltd.’s holdings in Plexus Corp. were worth $168,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in Plexus Corp. by 3.8% in the second quarter. Principal Financial Group Inc. now owns 282,731 shares of the technology company’s stock valued at $14,864,000 after buying an additional 10,388 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in shares of Plexus Corp. during the second quarter valued at $430,000. Neuberger Berman Group LLC increased its holdings in shares of Plexus Corp. by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after purchasing an additional 31 shares during the period. American Century Companies Inc. increased its holdings in shares of Plexus Corp. by 102.5% during the second quarter. American Century Companies Inc. now owns 153,716 shares of the technology company’s stock valued at $8,081,000 after purchasing an additional 77,809 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Plexus Corp. by 8.2% during the second quarter. Jennison Associates LLC now owns 36,691 shares of the technology company’s stock valued at $1,929,000 after purchasing an additional 2,771 shares during the period. Institutional investors own 94.51% of the company’s stock.
In other news, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $49.46, for a total transaction of $511,911.00. Following the transaction, the chief accounting officer now owns 17,009 shares of the company’s stock, valued at $841,265.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oliver K. Mihm sold 1,300 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $53.80, for a total value of $69,940.00. Following the transaction, the insider now directly 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 90,580 shares of company stock worth $4,862,392 in the last ninety days. 4.30% of the stock is currently owned by insiders.
A number of research analysts have recently commented on PLXS shares. BidaskClub lowered Plexus Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised Plexus Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. ValuEngine lowered Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Stifel Nicolaus reissued a “hold” rating and set a $54.00 price target (up from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Finally, Deutsche Bank AG raised their price target on Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a report on Friday, July 21st. Two 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. The company presently has a consensus rating of “Hold” and an average target price of $57.88.
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Plexus Corp. (PLXS) opened at 52.42 on Friday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 17.70 and a beta of 0.94. Plexus Corp. has a one year low of $44.35 and a one year high of $58.74. The stock’s 50 day moving average price is $51.68 and its 200-day moving average price is $53.36.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results 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. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The business had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.
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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