Barings LLC continued to hold its position in Plexus Corp. (NASDAQ:PLXS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,500 shares of the technology company’s stock at the end of the second quarter. Barings LLC owned 0.07% of Plexus Corp. worth $1,358,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its stake in Plexus Corp. by 69.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock valued at $124,000 after purchasing an additional 966 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Plexus Corp. during the 1st quarter valued at about $166,000. Cambridge Investment Research Advisors Inc. acquired a new position in Plexus Corp. during the 1st quarter valued at about $200,000. Neuberger Berman Group LLC boosted its stake in Plexus Corp. by 0.8% during the 2nd 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. Finally, SG Americas Securities LLC boosted its stake in Plexus Corp. by 20.0% during the 1st quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock valued at $211,000 after purchasing an additional 609 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.
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In other news, insider Oliver K. Mihm sold 1,300 shares of the firm’s stock in a transaction dated 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 owns 6,223 shares of the company’s stock, valued at approximately $334,797.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 11,250 shares of the firm’s stock in a transaction dated 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 approximately $3,149,770.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,180 shares of company stock worth $4,840,872. Insiders own 4.30% of the company’s stock.
PLXS has been the subject of a number of analyst reports. ValuEngine raised shares of Plexus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Deutsche Bank AG upped their price target on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 price target (up from $50.00) on shares of Plexus Corp. in a research note on Friday, July 21st. BidaskClub lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, J P Morgan Chase & Co lowered shares of Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Plexus Corp. currently has a consensus rating of “Hold” and an average target price of $57.00.
Shares of Plexus Corp. (NASDAQ:PLXS) opened at 58.95 on Wednesday. The stock has a 50 day moving average of $53.91 and a 200-day moving average of $53.28. Plexus Corp. has a 52 week low of $44.35 and a 52 week high of $59.55. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.90 and a beta of 0.95.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm 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 earned $0.82 EPS. The company’s revenue was down 7.3% on a year-over-year basis. Analysts expect that Plexus Corp. will post $3.22 earnings per share for the current year.
Plexus Corp. 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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