Vident Investment Advisory LLC lessened its stake in Plexus Corp. (NASDAQ:PLXS) by 13.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,606 shares of the technology company’s stock after selling 3,154 shares during the quarter. Vident Investment Advisory LLC owned approximately 0.07% of Plexus worth $1,383,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Plexus by 3.6% during the first quarter. State Street Corp now owns 923,166 shares of the technology company’s stock worth $50,368,000 after buying an additional 32,239 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Plexus by 38.0% during the 1st quarter. Victory Capital Management Inc. now owns 849,182 shares of the technology company’s stock worth $46,331,000 after acquiring an additional 233,635 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Plexus by 15.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 716,210 shares of the technology company’s stock worth $39,076,000 after acquiring an additional 97,820 shares in the last quarter. Norges Bank purchased a new stake in shares of Plexus in the fourth quarter valued at about $32,762,000. Finally, Geode Capital Management LLC lifted its position in shares of Plexus by 4.6% during the first quarter. Geode Capital Management LLC now owns 425,096 shares of the technology company’s stock valued at $23,192,000 after purchasing an additional 18,636 shares in the last quarter. 95.26% of the stock is currently owned by institutional investors.
PLXS stock opened at $74.29 on Friday. The stock has a fifty day moving average of $68.27 and a 200-day moving average of $65.17. Plexus Corp. has a fifty-two week low of $35.16 and a fifty-two week high of $86.53. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 19.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.72.
Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.45. The business had revenue of $857.39 million for the quarter, compared to the consensus estimate of $801.94 million. Plexus had a net margin of 3.55% and a return on equity of 12.41%. Equities analysts predict that Plexus Corp. will post 3.93 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Needham & Company LLC upped their price objective on shares of Plexus from $67.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. TheStreet raised Plexus from a “c+” rating to a “b” rating in a research report on Wednesday, July 22nd. Zacks Investment Research raised Plexus from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Monday, July 27th. Stifel Nicolaus upped their price objective on Plexus from $60.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Finally, Loop Capital lifted their target price on Plexus from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $80.67.
In other Plexus news, VP Ronnie Darroch sold 1,702 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $59.85, for a total transaction of $101,864.70. Following the sale, the vice president now owns 7,810 shares in the company, valued at $467,428.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen P. Cortinovis sold 1,500 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $59.90, for a total value of $89,850.00. Following the completion of the transaction, the director now directly owns 28,185 shares of the company’s stock, valued at $1,688,281.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,348 shares of company stock valued at $4,192,338. 3.20% of the stock is owned by insiders.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.
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