Plexus Corp. (PLXS) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its stake in Plexus Corp. (NASDAQ:PLXS) by 11.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 245,094 shares of the technology company’s stock after buying an additional 24,542 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Plexus Corp. were worth $14,167,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in Plexus Corp. by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,070 shares of the technology company’s stock valued at $976,000 after buying an additional 1,090 shares during the last quarter. State Street Corp boosted its stake in Plexus Corp. by 9.1% in the fourth quarter. State Street Corp now owns 817,047 shares of the technology company’s stock valued at $44,154,000 after buying an additional 68,072 shares during the last quarter. Swiss National Bank boosted its stake in Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the technology company’s stock valued at $3,191,000 after buying an additional 1,100 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Plexus Corp. by 11.9% in the first quarter. Ameriprise Financial Inc. now owns 337,760 shares of the technology company’s stock valued at $19,522,000 after buying an additional 35,999 shares during the last quarter. Finally, Alambic Investment Management L.P. purchased a new stake in Plexus Corp. during the first quarter valued at $376,000. 93.60% of the stock is owned by institutional investors and hedge funds.
Plexus Corp. (NASDAQ:PLXS) opened at 52.76 on Monday. The firm has a 50-day moving average price of $52.02 and a 200 day moving average price of $54.34. Plexus Corp. has a one year low of $43.56 and a one year high of $58.74. The firm has a market capitalization of $1.78 billion, a PE ratio of 17.70 and a beta of 0.93.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, April 19th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $604.30 million for the quarter, compared to the consensus estimate of $633.72 million. Plexus Corp. had a return on equity of 11.10% and a net margin of 4.01%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. Analysts anticipate that Plexus Corp. will post $3.22 EPS for the current fiscal year.
Several analysts recently weighed in on PLXS shares. Zacks Investment Research cut Plexus Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Royal Bank Of Canada reissued a “sector perform” rating and set a $57.00 price target on shares of Plexus Corp. in a report on Saturday, April 22nd. J P Morgan Chase & Co started coverage on Plexus Corp. in a report on Tuesday, April 4th. They set a “neutral” rating and a $65.00 price target for the company. BidaskClub cut Plexus Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Finally, ValuEngine cut Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Plexus Corp. has an average rating of “Hold” and an average price target of $59.80.
In other Plexus Corp. news, Chairman Dean A. Foate sold 5,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $53.33, for a total transaction of $266,650.00. Following the sale, the chairman now owns 247,142 shares in the company, valued at $13,180,082.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total value of $106,980.00. Following the sale, the chief executive officer now owns 57,175 shares in the company, valued at approximately $3,058,290.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,400 shares of company stock worth $652,000. 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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