Thrivent Financial For Lutherans boosted its position in Plexus Corp. (NASDAQ:PLXS) by 99.7% during the 4th quarter, Holdings Channel reports. The firm owned 287,611 shares of the technology company’s stock after purchasing an additional 143,561 shares during the period. Thrivent Financial For Lutherans’ holdings in Plexus were worth $17,464,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Plexus by 2.6% in the fourth quarter. BlackRock Inc. now owns 4,313,584 shares of the technology company’s stock valued at $261,921,000 after purchasing an additional 107,433 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Plexus by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,832,718 shares of the technology company’s stock valued at $158,859,000 after purchasing an additional 15,581 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Plexus by 10.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 581,975 shares of the technology company’s stock valued at $35,338,000 after purchasing an additional 56,425 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Plexus by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 579,800 shares of the technology company’s stock valued at $35,206,000 after purchasing an additional 2,228 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Plexus by 2.0% in the fourth quarter. Victory Capital Management Inc. now owns 397,828 shares of the technology company’s stock valued at $24,156,000 after purchasing an additional 7,937 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.
Several research firms recently commented on PLXS. BidaskClub upgraded Plexus from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Longbow Research upgraded Plexus from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, TheStreet downgraded Plexus from an “a-” rating to a “c+” rating in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Plexus currently has an average rating of “Hold” and a consensus price target of $58.40.
Shares of Plexus Corp. (NASDAQ PLXS) opened at $64.28 on Monday. The stock has a market capitalization of $2,165.55, a price-to-earnings ratio of 20.28 and a beta of 0.83. Plexus Corp. has a 12-month low of $49.06 and a 12-month high of $66.78. The company has a current ratio of 1.90, a quick ratio of 1.08 and a debt-to-equity ratio of 0.03.
Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 17th. The technology company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.05). The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $685.07 million. Plexus had a positive return on equity of 11.24% and a negative net margin of 0.57%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. sell-side analysts forecast that Plexus Corp. will post 3.25 EPS for the current year.
Plexus declared that its board has authorized a stock repurchase program on Tuesday, February 20th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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Plexus 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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