Systematic Financial Management LP Sells 985 Shares of Plexus Corp. (PLXS)
Systematic Financial Management LP lowered its position in shares of Plexus Corp. (NASDAQ:PLXS) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,865 shares of the technology company’s stock after selling 985 shares during the period. Systematic Financial Management LP owned 0.09% of Plexus worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PLXS. Riverhead Capital Management LLC increased its stake in shares of Plexus by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after purchasing an additional 966 shares during the period. Appleton Group LLC bought a new position in shares of Plexus during the third quarter worth approximately $201,000. Neuberger Berman Group LLC increased its stake in Plexus by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares during the period. Amalgamated Bank increased its stake in Plexus by 1.4% during the 2nd quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after acquiring an additional 65 shares during the period. Finally, Verition Fund Management LLC bought a new position in Plexus during the 2nd quarter worth $263,000. Institutional investors own 93.75% of the company’s stock.
A number of equities analysts have commented on the company. BidaskClub lowered Plexus from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Plexus in a research note on Tuesday, September 12th. J P Morgan Chase & Co lowered Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Tuesday, October 10th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Zacks Investment Research lowered Plexus from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $57.86.
In other Plexus news, Chairman Dean A. Foate sold 33,750 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $61.22, for a total value of $2,066,175.00. Following the sale, the chairman now owns 303,920 shares of the company’s stock, valued at approximately $18,605,982.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Ronnie Darroch sold 4,513 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $61.10, for a total value of $275,744.30. Following the completion of the sale, the vice president now directly owns 9,677 shares in the company, valued at approximately $591,264.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,896 shares of company stock worth $11,138,853. Company insiders own 4.30% of the company’s stock.
Plexus Corp. (NASDAQ:PLXS) opened at $63.32 on Monday. The company has a market capitalization of $2,130.00, a price-to-earnings ratio of 19.54 and a beta of 0.90. Plexus Corp. has a 52 week low of $49.06 and a 52 week high of $63.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.06 and a current ratio of 1.78.
Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. The firm had revenue of $670.00 million for the quarter, compared to the consensus estimate of $676.23 million. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. equities analysts forecast that Plexus Corp. will post 3.41 earnings per share for the current year.
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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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