Rhumbline Advisers cut its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,049 shares of the technology company’s stock after selling 2,150 shares during the period. Rhumbline Advisers owned about 0.25% of Plexus worth $4,801,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc lifted its stake in Plexus by 2.7% during the second quarter. Legal & General Group Plc now owns 84,714 shares of the technology company’s stock worth $5,043,000 after purchasing an additional 2,194 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Plexus by 14.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 19,411 shares of the technology company’s stock worth $1,136,000 after purchasing an additional 2,436 shares during the last quarter. Strs Ohio lifted its stake in Plexus by 3.8% during the second quarter. Strs Ohio now owns 82,100 shares of the technology company’s stock worth $4,888,000 after purchasing an additional 3,000 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Plexus by 13.4% during the second quarter. OppenheimerFunds Inc. now owns 27,352 shares of the technology company’s stock worth $1,629,000 after purchasing an additional 3,223 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Plexus during the second quarter worth $205,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.
In other news, Director Ralf R. Boer sold 2,500 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $60.50, for a total value of $151,250.00. Following the completion of the transaction, the director now directly owns 26,790 shares in the company, valued at approximately $1,620,795. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 9,000 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $58.68, for a total value of $528,120.00. Following the completion of the transaction, the chief executive officer now owns 72,031 shares of the company’s stock, valued at $4,226,779.08. The disclosure for this sale can be found here. Insiders sold a total of 37,550 shares of company stock valued at $2,231,807 over the last quarter. 3.70% of the stock is owned by corporate insiders.
Several research firms have weighed in on PLXS. BidaskClub upgraded Plexus from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. ValuEngine cut Plexus from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Zacks Investment Research restated a “hold” rating on shares of Plexus in a research note on Wednesday, November 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.67.
Shares of PLXS opened at $56.84 on Friday. Plexus Corp. has a 52 week low of $52.44 and a 52 week high of $66.78. The firm has a market capitalization of $1.86 billion, a PE ratio of 18.29 and a beta of 0.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.06 and a quick ratio of 0.98.
Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. Plexus had a return on equity of 11.98% and a net margin of 0.45%. The company had revenue of $771.18 million during the quarter, compared to analysts’ expectations of $760.98 million. During the same period in the prior year, the company earned $0.84 EPS. Plexus’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts expect that Plexus Corp. will post 3.87 EPS for the current year.
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Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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