Associated Banc Corp Sells 375 Shares of Plexus Corp. (PLXS)
Associated Banc Corp reduced its holdings in Plexus Corp. (NASDAQ:PLXS) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,450 shares of the technology company’s stock after selling 375 shares during the quarter. Associated Banc Corp’s holdings in Plexus Corp. were worth $602,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of PLXS. BlackRock Inc. lifted its position in shares of Plexus Corp. by 50,519.1% in the 1st quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock worth $246,644,000 after buying an additional 4,258,763 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Plexus Corp. in the 2nd quarter worth about $22,236,000. Franklin Resources Inc. bought a new position in shares of Plexus Corp. in the 2nd quarter worth about $12,449,000. Vanguard Group Inc. lifted its position in shares of Plexus Corp. by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 3,256,888 shares of the technology company’s stock worth $188,249,000 after buying an additional 207,360 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Plexus Corp. by 40.4% in the 1st quarter. Bank of New York Mellon Corp now owns 594,199 shares of the technology company’s stock worth $34,344,000 after buying an additional 170,844 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.
A number of research firms recently weighed in on PLXS. Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Zacks Investment Research cut shares of Plexus Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Deutsche Bank AG increased their price objective on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Citigroup Inc. increased their price objective on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, ValuEngine cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $57.88.
In other news, insider Oliver K. Mihm sold 2,749 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $54.87, for a total value of $150,837.63. Following the sale, the insider now owns 6,223 shares in the company, valued at approximately $341,456.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Oliver K. Mihm sold 1,300 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $53.80, for a total transaction of $69,940.00. Following the completion of the sale, the insider now owns 6,223 shares in the company, valued at approximately $334,797.40. The disclosure for this sale can be found here. Insiders sold a total of 90,580 shares of company stock worth $4,862,392 in the last 90 days. 4.30% of the stock is owned by corporate insiders.
Plexus Corp. (NASDAQ:PLXS) traded down 0.10% during mid-day trading on Thursday, hitting $52.37. 3,265 shares of the company were exchanged. Plexus Corp. has a 12-month low of $44.35 and a 12-month high of $58.74. The stock’s 50 day moving average is $51.81 and its 200-day moving average is $53.37. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 17.68 and a beta of 0.94.
Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The company had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. During the same quarter in the previous year, the company earned $0.82 EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. Equities research analysts predict that Plexus Corp. will post $3.22 EPS for the current year.
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Plexus Corp. 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.
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