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Plexus Corp. (NASDAQ:PLXS) Shares Bought by State of Alaska Department of Revenue

Defense World · Sep 26, 2022 04:41

State of Alaska Department of Revenue lifted its holdings in shares of Plexus Corp. (NASDAQ:PLXS – Get Rating) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,036 shares of the technology company's stock after buying an additional 1,435 shares during the period. State of Alaska Department of Revenue owned about 0.08% of Plexus worth $1,651,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC acquired a new position in Plexus during the first quarter worth $1,106,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Plexus during the 1st quarter worth $366,000. Captrust Financial Advisors increased its holdings in shares of Plexus by 72.9% in the 1st quarter. Captrust Financial Advisors now owns 2,051 shares of the technology company's stock valued at $168,000 after purchasing an additional 865 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Plexus by 3.4% in the first quarter. Disciplined Growth Investors Inc. MN now owns 2,272,258 shares of the technology company's stock valued at $185,893,000 after purchasing an additional 74,646 shares during the period. Finally, Vident Investment Advisory LLC boosted its holdings in Plexus by 16.4% during the first quarter. Vident Investment Advisory LLC now owns 16,312 shares of the technology company's stock worth $1,333,000 after buying an additional 2,298 shares in the last quarter. 96.53% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Plexus

In related news, CFO Patrick John Jermain sold 2,500 shares of the company's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $93.84, for a total transaction of $234,600.00. Following the transaction, the chief financial officer now owns 45,434 shares of the company's stock, valued at $4,263,526.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Patrick John Jermain sold 2,500 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $93.84, for a total transaction of $234,600.00. Following the transaction, the chief financial officer now directly owns 45,434 shares in the company, valued at $4,263,526.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd P. Kelsey sold 3,000 shares of the firm's stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $294,000.00. Following the completion of the sale, the chief executive officer now directly owns 16,451 shares in the company, valued at $1,612,198. The disclosure for this sale can be found here. Insiders sold a total of 19,064 shares of company stock worth $1,797,838 over the last ninety days. 2.17% of the stock is currently owned by corporate insiders.

Plexus Trading Down 2.0 %

Shares of Plexus stock opened at $87.40 on Monday. Plexus Corp. has a 1 year low of $72.88 and a 1 year high of $99.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.43 and a quick ratio of 0.59. The business has a 50 day moving average price of $91.57 and a 200 day moving average price of $84.82. The company has a market capitalization of $2.42 billion, a P/E ratio of 20.52 and a beta of 1.12.

Plexus (NASDAQ:PLXS – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.23. Plexus had a return on equity of 11.79% and a net margin of 3.43%. The business had revenue of $981.00 million for the quarter, compared to analyst estimates of $906.32 million. During the same quarter last year, the company earned $0.99 earnings per share. The business's revenue for the quarter was up 20.5% compared to the same quarter last year. Sell-side analysts anticipate that Plexus Corp. will post 4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James raised shares of Plexus from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a report on Tuesday, June 7th. JPMorgan Chase & Co. cut Plexus from a "neutral" rating to an "underweight" rating and set a $85.00 price objective for the company. in a report on Friday, August 12th. Finally, Benchmark boosted their target price on Plexus from $101.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, August 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $95.00.

About Plexus

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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.

Plexus Corp. (NASDAQ:PLXS) Shares Bought by State of Alaska Department of Revenue

Insider Transactions at Plexus

Plexus Trading Down 2.0 %

Wall Street Analyst Weigh In

About Plexus

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