Plexus Corp. (PLXS) Position Increased by BlackRock Investment Management LLC
BlackRock Investment Management LLC increased its position in shares of Plexus Corp. (NASDAQ:PLXS) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,196 shares of the company’s stock after buying an additional 871 shares during the period. BlackRock Investment Management LLC’s holdings in Plexus Corp. were worth $7,541,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Artemis Investment Management LLP acquired a new position in shares of Plexus Corp. during the second quarter worth $15,547,000. Smith Asset Management Group LP raised its position in shares of Plexus Corp. by 205,750.0% in the second quarter. Smith Asset Management Group LP now owns 65,872 shares of the company’s stock worth $2,846,000 after buying an additional 65,840 shares in the last quarter. Swiss National Bank raised its position in shares of Plexus Corp. by 1.4% in the second quarter. Swiss National Bank now owns 56,200 shares of the company’s stock worth $2,428,000 after buying an additional 800 shares in the last quarter. Hancock Holding Co. acquired a new position in shares of Plexus Corp. during the second quarter worth $864,000. Finally, Nationwide Fund Advisors raised its position in shares of Plexus Corp. by 21.6% in the second quarter. Nationwide Fund Advisors now owns 33,288 shares of the company’s stock worth $1,438,000 after buying an additional 5,914 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Plexus Corp. (NASDAQ:PLXS) opened at 54.89 on Friday. The stock has a market capitalization of $1.84 billion, a P/E ratio of 24.50 and a beta of 1.17. Plexus Corp. has a 52-week low of $28.72 and a 52-week high of $55.36. The firm’s 50-day moving average price is $52.89 and its 200-day moving average price is $47.57.
Plexus Corp. (NASDAQ:PLXS) last released its earnings results on Wednesday, October 26th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $653.06 million for the quarter, compared to the consensus estimate of $670.53 million. Plexus Corp. had a return on equity of 9.77% and a net margin of 2.99%. Plexus Corp.’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities analysts forecast that Plexus Corp. will post $3.27 earnings per share for the current fiscal year.
PLXS has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Plexus Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. B. Riley reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Plexus Corp. in a report on Thursday, October 27th. Longbow Research lowered Plexus Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, December 15th. Finally, Needham & Company LLC set a $52.00 price objective on Plexus Corp. and gave the stock a “buy” rating in a report on Friday, September 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Plexus Corp. presently has a consensus rating of “Hold” and a consensus price target of $49.80.
In related news, Chairman Dean A. Foate sold 7,995 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $46.76, for a total value of $373,846.20. Following the sale, the chairman now owns 241,692 shares of the company’s stock, valued at approximately $11,301,517.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Dean A. Foate sold 10,336 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $46.80, for a total value of $483,724.80. Following the completion of the sale, the chairman now directly owns 241,692 shares in the company, valued at approximately $11,311,185.60. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus 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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