US Bancorp DE trimmed its position in shares of Plexus Corp. (NASDAQ:PLXS) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,269 shares of the technology company’s stock after selling 1,463 shares during the period. US Bancorp DE owned about 0.10% of Plexus worth $2,081,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Appleton Group LLC purchased a new position in shares of Plexus during the 3rd quarter valued at about $201,000. Verition Fund Management LLC purchased a new position in shares of Plexus during the 2nd quarter valued at about $263,000. PNC Financial Services Group Inc. raised its holdings in shares of Plexus by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock valued at $328,000 after buying an additional 92 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Plexus during the 2nd quarter valued at about $383,000. Finally, Parametrica Management Ltd purchased a new position in shares of Plexus during the 4th quarter valued at about $420,000. 93.70% of the stock is currently owned by institutional investors.
Plexus Corp. (NASDAQ PLXS) opened at $59.16 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08. The company has a market capitalization of $1,992.39, a P/E ratio of 18.66 and a beta of 0.87. Plexus Corp. has a 12 month low of $49.06 and a 12 month high of $66.78.
Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $685.07 million. Plexus had a positive return on equity of 11.24% and a negative net margin of 0.57%. Plexus’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. equities analysts predict that Plexus Corp. will post 3.25 earnings per share for the current fiscal year.
PLXS has been the topic of a number of research reports. BidaskClub cut Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. TheStreet cut Plexus from an “a-” rating to a “c+” rating in a report on Wednesday, January 17th. Longbow Research raised Plexus from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Zacks Investment Research cut Plexus from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $59.17.
In other Plexus news, Chairman Dean A. Foate sold 12,300 shares of Plexus stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $63.41, for a total value of $779,943.00. Following the transaction, the chairman now directly owns 295,220 shares of the company’s stock, valued at approximately $18,719,900.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael V. Schrock sold 10,000 shares of Plexus stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $63.04, for a total value of $630,400.00. Following the completion of the transaction, the director now directly owns 28,298 shares in the company, valued at $1,783,905.92. The disclosure for this sale can be found here. Insiders sold a total of 64,650 shares of company stock worth $4,057,561 over the last ninety days. Insiders own 3.70% of the company’s stock.
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Plexus 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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