California Public Employees Retirement System trimmed its position in Plexus Corp. (NASDAQ:PLXS) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,817 shares of the technology company’s stock after selling 6,367 shares during the quarter. California Public Employees Retirement System owned about 0.29% of Plexus worth $4,639,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of PLXS. Russell Investments Group Ltd. increased its position in Plexus by 14.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 104,807 shares of the technology company’s stock worth $6,132,000 after buying an additional 13,065 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Plexus by 14.4% in 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 period. Bank of New York Mellon Corp increased its position in shares of Plexus by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 444,853 shares of the technology company’s stock worth $26,027,000 after purchasing an additional 2,775 shares during the period. BlackRock Inc. increased its position in shares of Plexus by 2.0% in the third quarter. BlackRock Inc. now owns 4,601,135 shares of the technology company’s stock worth $269,213,000 after purchasing an additional 89,208 shares during the period. Finally, Jefferies Group LLC bought a new position in shares of Plexus in the third quarter worth $216,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
In other Plexus news, Director Stephen P. Cortinovis sold 5,000 shares of Plexus stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $54.03, for a total value of $270,150.00. Following the transaction, the director now owns 32,128 shares in the company, valued at $1,735,875.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ronnie Darroch sold 3,454 shares of Plexus stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $56.44, for a total value of $194,943.76. Following the completion of the transaction, the vice president now owns 8,489 shares in the company, valued at approximately $479,119.16. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
Shares of NASDAQ PLXS opened at $61.22 on Friday. The company has a current ratio of 1.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. Plexus Corp. has a 52 week low of $47.63 and a 52 week high of $66.49. The firm has a market capitalization of $1.87 billion, a P/E ratio of 18.95 and a beta of 0.78.
Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, January 16th. The technology company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.01. Plexus had a return on equity of 12.44% and a net margin of 4.52%. The company had revenue of $765.54 million for the quarter, compared to analysts’ expectations of $768.32 million. During the same quarter last year, the business earned $0.75 earnings per share. Plexus’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Plexus Corp. will post 3.71 EPS for the current year.
PLXS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Plexus from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, January 16th. BidaskClub cut Plexus from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.00.
Plexus Company Profile
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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