Alyeska Investment Group L.P. Has $5.16 Million Position in Plexus Corp. (PLXS)
Alyeska Investment Group L.P. reduced its holdings in Plexus Corp. (NASDAQ:PLXS) by 49.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,946 shares of the technology company’s stock after selling 88,933 shares during the period. Alyeska Investment Group L.P. owned approximately 0.27% of Plexus worth $5,156,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PLXS. FMR LLC increased its position in Plexus by 546.1% in the 2nd 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 period. Franklin Resources Inc. bought a new position in Plexus in the 2nd quarter worth approximately $12,449,000. Dimensional Fund Advisors LP increased its position in Plexus by 5.8% in the 2nd 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 period. Vaughan Nelson Investment Management L.P. increased its position in Plexus by 24.3% in the 3rd 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 period. Finally, Brandywine Global Investment Management LLC bought a new position in Plexus in the 2nd quarter worth approximately $5,016,000. 94.16% of the stock is currently owned by institutional investors.
In other Plexus news, VP Ronnie Darroch sold 4,513 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $61.10, for a total value of $275,744.30. Following the transaction, the vice president now owns 9,677 shares of the company’s stock, valued at $591,264.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total value of $985,280.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,159 shares in the company, valued at approximately $1,118,231.22. The disclosure for this sale can be found here. Insiders have sold 205,696 shares of company stock worth $12,706,971 in the last ninety days. 4.30% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on the company. BidaskClub cut Plexus from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co upgraded Plexus from a “neutral” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research report on Monday, August 28th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Zacks Investment Research cut Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Plexus in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $57.86.
Plexus Corp. (NASDAQ:PLXS) opened at $61.28 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06. The company has a market capitalization of $2,060.00, a price-to-earnings ratio of 18.79 and a beta of 0.87. Plexus Corp. has a one year low of $49.06 and a one year high of $64.12.
Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analyst estimates of $676.23 million. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. sell-side analysts expect that Plexus Corp. will post 3.41 EPS for the current 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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