Victory Capital Management Inc. lowered its stake in Plexus Corp. (NASDAQ:PLXS) by 56.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,891 shares of the technology company’s stock after selling 503,530 shares during the quarter. Victory Capital Management Inc. owned about 1.16% of Plexus Corp. worth $21,865,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of PLXS. FMR LLC raised its stake in Plexus Corp. by 546.1% during the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after purchasing an additional 939,589 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Plexus Corp. during the 2nd quarter valued at approximately $22,236,000. Franklin Resources Inc. bought a new stake in Plexus Corp. during the 2nd quarter valued at approximately $12,449,000. Vanguard Group Inc. raised its stake in Plexus Corp. by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 3,256,888 shares of the technology company’s stock valued at $188,249,000 after purchasing an additional 207,360 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Plexus Corp. by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,817,137 shares of the technology company’s stock valued at $148,098,000 after purchasing an additional 155,417 shares during the period. 92.92% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of Plexus Corp. stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $49.38, for a total value of $432,075.00. Following the completion of the transaction, the chief accounting officer now owns 17,009 shares in the company, valued at approximately $839,904.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Dean A. Foate sold 15,000 shares of Plexus Corp. stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.72, for a total value of $910,800.00. Following the completion of the transaction, the chairman now owns 288,920 shares of the company’s stock, valued at approximately $17,543,222.40. The disclosure for this sale can be found here. Insiders have sold a total of 124,932 shares of company stock valued at $7,408,752 in the last 90 days. 4.30% of the stock is currently owned by company insiders.
Plexus Corp. (PLXS) opened at $61.07 on Friday. The firm has a market capitalization of $2,043.65, a P/E ratio of 18.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.06 and a current ratio of 1.78. Plexus Corp. has a 1-year low of $47.55 and a 1-year high of $62.56.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The business had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $676.23 million. Plexus Corp. had a return on equity of 11.48% and a net margin of 4.43%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. equities research analysts expect that Plexus Corp. will post 3.41 earnings per share for the current fiscal year.
Several analysts recently issued reports on PLXS shares. Citigroup Inc. lifted their target price on Plexus Corp. from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Stifel Nicolaus reissued a “hold” rating and set a $54.00 target price on shares of Plexus Corp. in a research note on Tuesday, September 12th. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. J P Morgan Chase & Co downgraded Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Tuesday, October 10th. Finally, ValuEngine raised Plexus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $57.86.
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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