Plexus Corp. (PLXS) Position Raised by Arizona State Retirement System
Arizona State Retirement System boosted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,539 shares of the technology company’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in Plexus Corp. were worth $1,014,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Elkfork Partners LLC purchased a new stake in shares of Plexus Corp. during the fourth quarter valued at $133,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Plexus Corp. during the first quarter valued at $166,000. Appleton Group LLC purchased a new stake in shares of Plexus Corp. during the first quarter valued at $211,000. SG Americas Securities LLC raised its stake in shares of Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock valued at $211,000 after buying an additional 609 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Plexus Corp. by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,720 shares of the technology company’s stock valued at $215,000 after buying an additional 100 shares in the last quarter. 94.20% of the stock is owned by hedge funds and other institutional investors.
Plexus Corp. (PLXS) opened at 51.85 on Tuesday. The firm has a 50-day moving average price of $51.69 and a 200-day moving average price of $54.35. Plexus Corp. has a 52 week low of $41.13 and a 52 week high of $58.74. The firm has a market capitalization of $1.75 billion, a P/E ratio of 17.40 and a beta of 0.91.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.08. Plexus Corp. had a net margin of 4.01% and a return on equity of 11.10%. The firm had revenue of $604.30 million during the quarter, compared to analyst estimates of $633.72 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts forecast that Plexus Corp. will post $3.23 EPS for the current year.
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PLXS has been the subject of several research analyst reports. Zacks Investment Research raised Plexus Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $63.00 price objective (up from $60.00) on shares of Plexus Corp. in a report on Saturday, March 11th. BidaskClub lowered Plexus Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. J P Morgan Chase & Co initiated coverage on Plexus Corp. in a report on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $57.00 price objective on shares of Plexus Corp. in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Plexus Corp. currently has an average rating of “Hold” and a consensus price target of $59.80.
In other news, Chairman Dean A. Foate sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $53.33, for a total transaction of $266,650.00. Following the completion of the sale, the chairman now owns 247,142 shares of the company’s stock, valued at $13,180,082.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total transaction of $106,980.00. Following the sale, the chief executive officer now directly owns 57,175 shares of the company’s stock, valued at approximately $3,058,290.75. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $630,480 in the last three months. Company insiders own 4.30% of the company’s stock.
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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