Strs Ohio Purchases 10,600 Shares of Plexus Corp. (NASDAQ:PLXS)
Strs Ohio grew its position in shares of Plexus Corp. (NASDAQ:PLXS) by 71.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,500 shares of the technology company’s stock after buying an additional 10,600 shares during the quarter. Strs Ohio owned approximately 0.09% of Plexus worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Plexus in the fourth quarter valued at approximately $32,762,000. Deutsche Bank AG raised its holdings in Plexus by 1,340.5% in the first quarter. Deutsche Bank AG now owns 290,904 shares of the technology company’s stock worth $15,871,000 after purchasing an additional 270,709 shares during the period. Victory Capital Management Inc. raised its holdings in Plexus by 38.0% in the first quarter. Victory Capital Management Inc. now owns 849,182 shares of the technology company’s stock worth $46,331,000 after purchasing an additional 233,635 shares during the period. Channing Capital Management LLC acquired a new stake in Plexus in the first quarter worth $10,726,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Plexus in the second quarter worth $9,371,000. 95.26% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Stephen P. Cortinovis sold 1,500 shares of Plexus stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $59.90, for a total transaction of $89,850.00. Following the sale, the director now directly owns 28,185 shares of the company’s stock, valued at approximately $1,688,281.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronnie Darroch sold 1,702 shares of Plexus stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $59.85, for a total transaction of $101,864.70. Following the sale, the vice president now directly owns 7,810 shares in the company, valued at $467,428.50. The disclosure for this sale can be found here. Insiders sold a total of 60,348 shares of company stock valued at $4,192,338 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.
Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.45. Plexus had a net margin of 3.55% and a return on equity of 12.41%. The business had revenue of $857.39 million during the quarter, compared to analysts’ expectations of $801.94 million. On average, sell-side analysts anticipate that Plexus Corp. will post 3.93 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on PLXS shares. BidaskClub upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Saturday, July 11th. TheStreet raised shares of Plexus from a “c+” rating to a “b” rating in a research report on Wednesday, July 22nd. Needham & Company LLC increased their price objective on shares of Plexus from $67.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Loop Capital increased their price objective on shares of Plexus from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Stifel Nicolaus increased their price objective on shares of Plexus from $60.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $80.67.
Plexus Company Profile
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.
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