Nationwide Fund Advisors trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,530 shares of the technology company’s stock after selling 4,827 shares during the quarter. Nationwide Fund Advisors owned about 0.17% of Plexus Corp. worth $2,919,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in PLXS. BlackRock Inc. boosted its holdings in Plexus Corp. by 50,519.1% during the first quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock valued at $246,644,000 after acquiring an additional 4,258,763 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Plexus Corp. in the second quarter valued at about $22,236,000. Franklin Resources Inc. bought a new stake in shares of Plexus Corp. in the second quarter valued at about $12,449,000. Vanguard Group Inc. lifted its stake in shares of Plexus Corp. by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,256,888 shares of the technology company’s stock valued at $188,249,000 after buying an additional 207,360 shares during the period. Finally, FMR LLC lifted its stake in shares of Plexus Corp. by 412.9% in the first quarter. FMR LLC now owns 172,066 shares of the technology company’s stock valued at $9,945,000 after buying an additional 138,520 shares during the period. Institutional investors own 93.93% of the company’s stock.
Several equities research analysts recently weighed in on the stock. J P Morgan Chase & Co upgraded shares of Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Monday, August 28th. BidaskClub cut shares of Plexus Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 target price on shares of Plexus Corp. in a research note on Tuesday, September 12th. ValuEngine upgraded shares of Plexus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Citigroup Inc. increased their target price on shares of Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.00.
In other Plexus Corp. news, VP Ronnie Darroch sold 26,757 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $54.94, for a total value of $1,470,029.58. Following the completion of the transaction, the vice president now directly owns 9,397 shares in the company, valued at approximately $516,271.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $49.46, for a total transaction of $511,911.00. Following the completion of the transaction, the chief accounting officer now owns 17,009 shares of the company’s stock, valued at $841,265.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,180 shares of company stock valued at $4,840,872. 4.30% of the stock is owned by corporate insiders.
Shares of Plexus Corp. (PLXS) opened at 58.92 on Thursday. Plexus Corp. has a one year low of $44.35 and a one year high of $59.55. The company has a 50 day moving average of $54.16 and a 200-day moving average of $53.32. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 19.89 and a beta of 0.95.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The business had revenue of $618.80 million during the quarter, compared to analysts’ expectations of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. On average, analysts expect that Plexus Corp. will post $3.22 EPS for the current year.
Plexus Corp. Company 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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