Systematic Financial Management LP Cuts Position in Plexus Corp. (PLXS)
Systematic Financial Management LP trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,850 shares of the technology company’s stock after selling 1,070 shares during the quarter. Systematic Financial Management LP owned approximately 0.09% of Plexus Corp. worth $1,622,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new position in Plexus Corp. in the first quarter worth $166,000. Cambridge Investment Research Advisors Inc. purchased a new position in Plexus Corp. in the first quarter worth $200,000. Neuberger Berman Group LLC grew its holdings in Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after purchasing an additional 31 shares during the last quarter. SG Americas Securities LLC grew its holdings in 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 purchasing an additional 609 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Plexus Corp. in the first quarter worth $231,000. 93.93% of the stock is currently owned by institutional investors.
Several research firms have issued reports on PLXS. Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 price target on shares of Plexus Corp. in a report on Tuesday, September 12th. ValuEngine lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub downgraded shares of Plexus Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Citigroup Inc. lifted their price objective on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Two investment 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. Plexus Corp. has an average rating of “Hold” and an average target price of $57.88.
In other Plexus Corp. news, Director Ralf R. Boer sold 1,374 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $50.00, for a total transaction of $68,700.00. Following the transaction, the director now directly owns 23,124 shares of the company’s stock, valued at approximately $1,156,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 11,250 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $55.09, for a total transaction of $619,762.50. Following the transaction, the chief executive officer now directly owns 57,175 shares in the company, valued at $3,149,770.75. The disclosure for this sale can be found here. Insiders sold a total of 90,580 shares of company stock worth $4,862,392 over the last ninety days. Insiders own 4.30% of the company’s stock.
Shares of Plexus Corp. (PLXS) opened at 52.69 on Monday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 17.79 and a beta of 0.94. Plexus Corp. has a 1-year low of $44.35 and a 1-year high of $58.74. The stock’s 50 day moving average is $51.63 and its 200 day moving average is $53.33.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The company’s revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Equities analysts predict that Plexus Corp. will post $3.22 earnings per share for the current year.
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.
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