JPMorgan Chase & Co. trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 38.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,726 shares of the technology company’s stock after selling 129,163 shares during the period. JPMorgan Chase & Co. owned 0.61% of Plexus worth $11,613,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of PLXS. FMR LLC raised its stake in shares of Plexus by 546.1% during the second quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock worth $58,440,000 after buying an additional 939,589 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Plexus during the second quarter worth approximately $12,449,000. Dimensional Fund Advisors LP raised its stake in shares of Plexus by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,817,137 shares of the technology company’s stock worth $148,098,000 after buying an additional 155,417 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Plexus by 24.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 525,550 shares of the technology company’s stock worth $29,473,000 after buying an additional 102,575 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Plexus during the second quarter worth approximately $5,016,000. 93.45% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Dean A. Foate sold 12,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $63.41, for a total value of $779,943.00. Following the completion of the transaction, the chairman now owns 295,220 shares in the company, valued at $18,719,900.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Dean A. Foate sold 1,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $60.38, for a total transaction of $60,380.00. Following the transaction, the chairman now owns 288,920 shares of the company’s stock, valued at approximately $17,444,989.60. The disclosure for this sale can be found here. Insiders sold 205,696 shares of company stock valued at $12,706,971 in the last quarter. Corporate insiders own 3.70% of the company’s stock.
A number of research analysts recently issued reports on the stock. Longbow Research upgraded shares of Plexus from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. BidaskClub cut shares of Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. ValuEngine upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. JPMorgan Chase & Co. cut shares of Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a report on Tuesday, October 10th. Finally, Zacks Investment Research cut shares of Plexus from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Plexus presently has a consensus rating of “Hold” and an average price target of $57.86.
Plexus Corp. (NASDAQ PLXS) traded up $1.32 during trading on Friday, hitting $65.87. 82,898 shares of the stock traded hands, compared to its average volume of 136,771. The firm has a market capitalization of $2,220.00, a PE ratio of 20.33 and a beta of 0.88. Plexus Corp. has a 12 month low of $49.06 and a 12 month high of $65.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06.
Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The company had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $676.23 million. Plexus had a net margin of 4.43% and a return on equity of 11.48%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. equities research analysts forecast that Plexus Corp. will post 3.41 EPS for the current fiscal year.
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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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