Cambridge Investment Research Advisors Inc. purchased a new stake in Plexus Corp. (NASDAQ:PLXS) during the first quarter, according to its most recent filing with the SEC. The fund purchased 3,462 shares of the technology company’s stock, valued at approximately $200,000.
Several other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Plexus Corp. by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,070 shares of the technology company’s stock valued at $976,000 after buying an additional 1,090 shares during the last quarter. State Street Corp boosted its stake in shares of Plexus Corp. by 9.1% in the fourth quarter. State Street Corp now owns 817,047 shares of the technology company’s stock valued at $44,154,000 after buying an additional 68,072 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Plexus Corp. by 11.9% in the first quarter. Ameriprise Financial Inc. now owns 337,760 shares of the technology company’s stock valued at $19,522,000 after buying an additional 35,999 shares during the last quarter. Swiss National Bank boosted its stake in shares of Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the technology company’s stock valued at $3,191,000 after buying an additional 1,100 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock valued at $749,000 after buying an additional 150 shares during the last quarter. 94.92% of the stock is owned by hedge funds and other institutional investors.
Plexus Corp. (PLXS) traded down 1.03% on Friday, hitting $53.76. 163,919 shares of the company traded hands. The firm has a market capitalization of $1.81 billion, a P/E ratio of 18.15 and a beta of 0.93. Plexus Corp. has a 12 month low of $44.35 and a 12 month high of $58.74. The stock’s 50-day moving average is $52.89 and its 200 day moving average is $54.21.
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, 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 company had revenue of $618.80 million during the quarter, compared to the consensus estimate of $608.95 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts forecast that Plexus Corp. will post $3.22 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on PLXS shares. Zacks Investment Research cut shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $57.00 price target on shares of Plexus Corp. in a research report on Saturday, April 22nd. J P Morgan Chase & Co initiated coverage on shares of Plexus Corp. in a research report on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 price target for the company. Citigroup Inc. boosted their price objective on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $54.00 price objective (up previously from $50.00) on shares of Plexus Corp. in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Plexus Corp. presently has an average rating of “Hold” and a consensus price target of $58.25.
In other Plexus Corp. news, Director Michael V. Schrock sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total transaction of $256,850.00. Following the sale, the director now owns 28,298 shares of the company’s stock, valued at $1,453,668.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Steven J. Frisch sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $54.82, for a total transaction of $137,050.00. Following the sale, the vice president now directly owns 20,478 shares in the company, valued at approximately $1,122,603.96. The disclosure for this sale can be found here. Insiders sold 80,106 shares of company stock valued at $4,373,206 in the last quarter. 4.30% of the stock is owned by insiders.
About Plexus Corp.
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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