Vaughan Nelson Investment Management L.P. lowered its holdings in Plexus Corp. (NASDAQ:PLXS) by 5.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 551,779 shares of the technology company’s stock after selling 30,196 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 1.67% of Plexus worth $32,958,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Plexus by 0.7% in the 1st quarter. BlackRock Inc. now owns 4,344,057 shares of the technology company’s stock worth $259,469,000 after buying an additional 30,473 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Plexus by 0.5% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 2,991,614 shares of the technology company’s stock worth $181,651,000 after buying an additional 13,472 shares during the period. Franklin Resources Inc. lifted its holdings in Plexus by 67.3% in the 4th quarter. Franklin Resources Inc. now owns 1,192,000 shares of the technology company’s stock worth $72,378,000 after buying an additional 479,300 shares during the period. Northern Trust Corp raised its position in shares of Plexus by 0.3% in the 1st quarter. Northern Trust Corp now owns 1,026,709 shares of the technology company’s stock worth $61,325,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Plexus by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 579,800 shares of the technology company’s stock worth $35,206,000 after acquiring an additional 2,228 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.
In related news, Director Stephen P. Cortinovis sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $61.30, for a total transaction of $383,125.00. Following the completion of the transaction, the director now owns 31,322 shares of the company’s stock, valued at approximately $1,920,038.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ronnie Darroch sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $60.66, for a total value of $75,825.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,900 shares of company stock valued at $723,293. 3.70% of the stock is owned by corporate insiders.
Shares of Plexus opened at $58.64 on Thursday, MarketBeat reports. Plexus Corp. has a 52-week low of $49.20 and a 52-week high of $66.78. The company has a market capitalization of $1.95 billion, a PE ratio of 18.10 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.00.
Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, April 25th. The technology company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Plexus had a positive return on equity of 10.96% and a negative net margin of 1.19%. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $691.05 million. During the same quarter in the prior year, the company earned $0.84 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. equities research analysts forecast that Plexus Corp. will post 3.21 EPS for the current year.
Plexus declared that its board has authorized a share buyback plan on Tuesday, February 20th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. set a $70.00 target price on Plexus and gave the stock a “hold” rating in a research report on Friday, March 16th. Zacks Investment Research raised Plexus from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Thursday, March 22nd. BidaskClub raised Plexus from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, TheStreet raised Plexus from a “c+” rating to a “b” rating in a research report on Wednesday, April 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.00.
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 product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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