Victory Capital Management Inc. lowered its position in shares of Plexus Corp. (NASDAQ:PLXS) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,053 shares of the technology company’s stock after selling 22,516 shares during the period. Victory Capital Management Inc. owned 2.20% of Plexus worth $41,449,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in Plexus by 1,548.3% in the 1st quarter. Quadrant Capital Group LLC now owns 989 shares of the technology company’s stock worth $59,000 after buying an additional 929 shares in the last quarter. Investors Research Corp purchased a new position in Plexus in the 1st quarter worth approximately $73,000. Amundi Pioneer Asset Management Inc. purchased a new position in Plexus in the 4th quarter worth approximately $128,000. NumerixS Investment Technologies Inc purchased a new position in Plexus in the 4th quarter worth approximately $161,000. Finally, SG Americas Securities LLC purchased a new position in Plexus in the 1st quarter worth approximately $294,000. 98.78% of the stock is owned by institutional investors.
In related news, Chairman Dean A. Foate sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $63.00, for a total transaction of $630,000.00. Following the completion of the sale, the chairman now directly owns 234,753 shares in the company, valued at approximately $14,789,439. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd P. Kelsey sold 10,693 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $60.89, for a total transaction of $651,096.77. Following the sale, the chief executive officer now owns 87,548 shares of the company’s stock, valued at $5,330,797.72. The disclosure for this sale can be found here. Insiders have sold a total of 94,493 shares of company stock valued at $5,895,704 over the last quarter. 3.90% of the stock is currently owned by company insiders.
Shares of PLXS traded up $0.50 during mid-day trading on Thursday, reaching $57.33. The company’s stock had a trading volume of 256 shares, compared to its average volume of 173,080. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 17.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 1.83. Plexus Corp. has a 52 week low of $47.63 and a 52 week high of $66.98.
Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, April 17th. The technology company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.05). The business had revenue of $789.10 million during the quarter, compared to the consensus estimate of $779.03 million. Plexus had a return on equity of 12.52% and a net margin of 4.79%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, equities research analysts predict that Plexus Corp. will post 3.46 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Plexus from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Zacks Investment Research upgraded shares of Plexus from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Finally, Sidoti assumed coverage on shares of Plexus in a report on Wednesday, March 20th. They issued a “buy” rating and a $78.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.00.
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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 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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