Goldman Sachs Group Inc. Sells 561,006 Shares of Plexus Corp. (PLXS)
Goldman Sachs Group Inc. reduced its position in Plexus Corp. (NASDAQ:PLXS) by 74.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,057 shares of the technology company’s stock after selling 561,006 shares during the period. Goldman Sachs Group Inc.’s holdings in Plexus Corp. were worth $11,275,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of PLXS. Ameritas Investment Partners Inc. bought a new position in shares of Plexus Corp. during the first quarter worth approximately $166,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Plexus Corp. during the first quarter worth approximately $200,000. SG Americas Securities LLC increased its position 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 worth $211,000 after buying an additional 609 shares in the last quarter. Appleton Group LLC bought a new position in shares of Plexus Corp. during the first quarter worth approximately $211,000. Finally, State of Alaska Department of Revenue increased its position 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 worth $215,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.
Shares of Plexus Corp. (NASDAQ PLXS) opened at 53.06 on Wednesday. The stock has a market cap of $1.79 billion, a PE ratio of 17.81 and a beta of 0.93. Plexus Corp. has a 52-week low of $43.56 and a 52-week high of $58.74. The company’s 50-day moving average is $52.52 and its 200-day moving average is $54.19.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 19th. The technology company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $604.30 million during the quarter, compared to the consensus estimate of $633.72 million. Plexus Corp. had a net margin of 4.01% and a return on equity of 11.10%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities analysts anticipate that Plexus Corp. will post $3.22 EPS for the current year.
A number of brokerages have commented on PLXS. ValuEngine downgraded shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Plexus Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. J P Morgan Chase & Co began coverage on shares of Plexus Corp. in a research note on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 target price on the stock. BidaskClub cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $57.00 price target on shares of Plexus Corp. in a research report on Saturday, April 22nd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.80.
In related news, Chairman Dean A. Foate sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $53.33, for a total value of $266,650.00. Following the completion of the sale, the chairman now owns 247,142 shares in the company, valued at approximately $13,180,082.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $53.49, for a total transaction of $106,980.00. Following the completion of the sale, the chief executive officer now 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 have sold a total of 12,400 shares of company stock valued at $652,000 in the last 90 days. Insiders own 4.30% of the company’s stock.
Plexus Corp. 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.
Want to see what other hedge funds are holding PLXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plexus Corp. (NASDAQ:PLXS).
Receive News & Ratings for Plexus Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus Corp. and related companies with MarketBeat.com's FREE daily email newsletter.