US Bancorp DE lessened its position in shares of Plexus Corp. (NASDAQ:PLXS – Get Rating) by 4.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 22,479 shares of the technology company's stock after selling 947 shares during the quarter. US Bancorp DE owned approximately 0.08% of Plexus worth $1,839,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLXS. Pinebridge Investments L.P. acquired a new stake in Plexus during the 4th quarter valued at approximately $77,000. Johnson Financial Group Inc. bought a new position in shares of Plexus during the 4th quarter worth approximately $79,000. Eaton Vance Management boosted its holdings in shares of Plexus by 11.3% during the 4th quarter. Eaton Vance Management now owns 1,982 shares of the technology company's stock worth $98,000 after buying an additional 202 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Plexus by 25.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,045 shares of the technology company's stock worth $167,000 after buying an additional 411 shares in the last quarter. Finally, Security Financial Services INC. bought a new position in shares of Plexus during the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 96.53% of the company's stock.
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Insider Activity at Plexus
In related news, CEO Todd P. Kelsey sold 3,000 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $90.00, for a total value of $270,000.00. Following the completion of the sale, the chief executive officer now directly owns 28,451 shares of the company's stock, valued at approximately $2,560,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Todd P. Kelsey sold 3,000 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $90.00, for a total value of $270,000.00. Following the completion of the sale, the chief executive officer now directly owns 28,451 shares of the company's stock, valued at approximately $2,560,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $96.41, for a total value of $96,410.00. Following the completion of the sale, the chief executive officer now directly owns 97,904 shares of the company's stock, valued at $9,438,924.64. The disclosure for this sale can be found here. In the last three months, insiders sold 19,614 shares of company stock valued at $1,843,994. 2.17% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on PLXS. JPMorgan Chase & Co. cut Plexus from a "neutral" rating to an "underweight" rating and set a $85.00 price target on the stock. in a report on Friday, August 12th. Benchmark increased their price target on Plexus from $101.00 to $105.00 and gave the stock a "buy" rating in a report on Monday, August 29th. Finally, Raymond James upgraded Plexus from a "market perform" rating to an "outperform" rating and set a $100.00 price target on the stock in a report on Tuesday, June 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $95.00.
Plexus Price Performance
Shares of PLXS opened at $90.83 on Friday. Plexus Corp. has a 12-month low of $72.88 and a 12-month high of $99.11. The business's fifty day moving average is $87.35 and its 200 day moving average is $83.62. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.52 billion, a P/E ratio of 21.32 and a beta of 1.14.
Plexus (NASDAQ:PLXS – Get Rating) last issued its earnings results on Wednesday, July 27th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.23. The company had revenue of $981.00 million for the quarter, compared to analysts' expectations of $906.32 million. Plexus had a return on equity of 11.79% and a net margin of 3.43%. Plexus's quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. Sell-side analysts anticipate that Plexus Corp. will post 4.44 earnings per share for the current fiscal year.
Plexus Profile
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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 to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.
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