Cypress Capital Group held its stake in shares of Plexus Corp. (NASDAQ:PLXS) during the first quarter, Holdings Channel reports. The institutional investor owned 5,000 shares of the technology company’s stock at the end of the first quarter. Cypress Capital Group’s holdings in Plexus Corp. were worth $289,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Elkfork Partners LLC bought a new position in shares of Plexus Corp. during the fourth quarter valued at approximately $133,000. Ameritas Investment Partners Inc. bought a new position in shares of Plexus Corp. during the first quarter valued at approximately $166,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Plexus Corp. during the first quarter valued at approximately $200,000. Appleton Group LLC bought a new position in shares of Plexus Corp. during the first quarter valued at approximately $211,000. Finally, SG Americas Securities LLC boosted its position in shares of Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock valued at $211,000 after buying an additional 609 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.
Shares of Plexus Corp. (PLXS) traded down 1.37% during trading on Friday, reaching $51.66. 274,329 shares of the company’s stock were exchanged. Plexus Corp. has a 52-week low of $41.13 and a 52-week high of $58.74. The company has a 50 day moving average price of $51.73 and a 200-day moving average price of $54.29. The company has a market capitalization of $1.74 billion, a PE ratio of 17.34 and a beta of 0.91.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, April 19th. The technology company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.08. The business had revenue of $604.30 million for the quarter, compared to analysts’ expectations of $633.72 million. Plexus Corp. had a net margin of 4.01% and a return on equity of 11.10%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that Plexus Corp. will post $3.23 earnings per share for the current year.
Several equities analysts have recently commented on the stock. BidaskClub cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research cut shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. J P Morgan Chase & Co assumed coverage on shares of Plexus Corp. in a research report on Tuesday, April 4th. They set a “neutral” rating and a $65.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price target on shares of Plexus Corp. in a research report on Saturday, April 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $63.00 price target (up previously from $60.00) on shares of Plexus Corp. in a research report on Saturday, March 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.80.
In other Plexus Corp. news, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $53.49, for a total value of $106,980.00. Following the transaction, the chief executive officer now directly owns 57,175 shares in the company, valued at $3,058,290.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Dean A. Foate sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $53.33, for a total transaction of $266,650.00. Following the completion of the transaction, the chairman now owns 247,142 shares in the company, valued at $13,180,082.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock worth $630,480. Company insiders own 4.30% of the company’s stock.
Plexus Corp. 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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