Plexus Corp. (NASDAQ:PLXS) Stake Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in Plexus Corp. (NASDAQ:PLXS) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,589 shares of the technology company’s stock after selling 2,343 shares during the quarter. New York State Teachers Retirement System’s holdings in Plexus were worth $5,346,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its holdings in Plexus by 1.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 12,386 shares of the technology company’s stock worth $723,000 after purchasing an additional 200 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in Plexus by 4.0% in the first quarter. Piedmont Investment Advisors Inc. now owns 7,784 shares of the technology company’s stock worth $474,000 after purchasing an additional 301 shares during the period. Texas Permanent School Fund boosted its holdings in Plexus by 1.9% in the first quarter. Texas Permanent School Fund now owns 20,990 shares of the technology company’s stock worth $1,279,000 after purchasing an additional 399 shares during the period. Rhumbline Advisers boosted its holdings in Plexus by 0.7% in the first quarter. Rhumbline Advisers now owns 97,868 shares of the technology company’s stock worth $5,965,000 after purchasing an additional 715 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Plexus by 2.0% in the fourth quarter. Two Sigma Advisers LP now owns 39,813 shares of the technology company’s stock worth $2,034,000 after purchasing an additional 788 shares during the period. 94.64% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Ralf R. Boer sold 2,500 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $58.64, for a total transaction of $146,600.00. Following the completion of the transaction, the director now owns 29,964 shares of the company’s stock, valued at $1,757,088.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Kelly sold 3,530 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $59.30, for a total transaction of $209,329.00. Following the transaction, the director now directly owns 30,202 shares of the company’s stock, valued at approximately $1,790,978.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,030 shares of company stock valued at $534,979. Corporate insiders own 3.90% of the company’s stock.

A number of equities analysts have commented on the stock. BidaskClub raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Plexus in a report on Tuesday, April 23rd. Sidoti set a $72.00 price objective on shares of Plexus and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Zacks Investment Research raised shares of Plexus from a “sell” rating to a “hold” rating and set a $62.00 price objective for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $68.67.

Shares of PLXS traded down $1.24 during midday trading on Friday, hitting $58.52. 230,809 shares of the stock traded hands, compared to its average volume of 203,682. Plexus Corp. has a 1-year low of $47.63 and a 1-year high of $66.98. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 18.12 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.91. The company’s 50 day simple moving average is $57.64.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 17th. The technology company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Plexus had a net margin of 4.62% and a return on equity of 12.40%. The company had revenue of $799.64 million during the quarter, compared to the consensus estimate of $783.30 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Plexus Corp. will post 3.37 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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