Legal & General Group Plc lifted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,736 shares of the technology company’s stock after purchasing an additional 4,169 shares during the quarter. Legal & General Group Plc owned 0.24% of Plexus Corp. worth $4,244,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in PLXS. BlackRock Inc. grew its holdings in shares of Plexus Corp. by 50,519.1% during the 1st quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock valued at $246,644,000 after purchasing an additional 4,258,763 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Plexus Corp. during the 2nd quarter valued at approximately $22,236,000. Vanguard Group Inc. grew its holdings in shares of 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 last quarter. Bank of New York Mellon Corp grew its holdings in shares of Plexus Corp. by 40.4% during the 1st quarter. Bank of New York Mellon Corp now owns 594,199 shares of the technology company’s stock valued at $34,344,000 after purchasing an additional 170,844 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Plexus Corp. by 412.9% during the 1st quarter. FMR LLC now owns 172,066 shares of the technology company’s stock valued at $9,945,000 after purchasing an additional 138,520 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors.
In other news, insider Oliver K. Mihm sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $53.80, for a total value of $69,940.00. Following the transaction, the insider now owns 6,223 shares in the company, valued at $334,797.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 11,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $55.09, for a total transaction of $619,762.50. Following the completion of the transaction, the chief executive officer now owns 57,175 shares in the company, valued at approximately $3,149,770.75. The disclosure for this sale can be found here. Insiders have sold 90,580 shares of company stock worth $4,862,392 over the last quarter. Company insiders own 4.30% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price target (up from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Zacks Investment Research lowered shares of Plexus Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Deutsche Bank AG boosted their target price on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Citigroup Inc. boosted their target price on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, ValuEngine lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $57.88.
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Shares of Plexus Corp. (NASDAQ:PLXS) opened at 52.48 on Wednesday. Plexus Corp. has a 12-month low of $44.35 and a 12-month high of $58.74. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 17.72 and a beta of 0.94. The firm’s 50-day moving average is $51.88 and its 200-day moving average is $53.41.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating 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 business had revenue of $618.80 million for the quarter, compared to analysts’ expectations of $608.95 million. During the same period last year, the business earned $0.82 earnings per share. The business’s quarterly revenue was down 7.3% on a year-over-year basis. On average, equities analysts predict that Plexus Corp. will post $3.22 EPS for the current year.
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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