State of Tennessee Treasury Department Trims Holdings in Plexus Corp. (NASDAQ:PLXS)

State of Tennessee Treasury Department lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,836 shares of the technology company’s stock after selling 1,886 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of Plexus worth $1,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverhead Capital Management LLC grew its stake in shares of Plexus by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after acquiring an additional 966 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Plexus by 0.8% in the second 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 last quarter. Amalgamated Bank grew its stake in shares of Plexus by 1.4% in the second 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 last quarter. Verition Fund Management LLC purchased a new stake in shares of Plexus in the second quarter worth $263,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Plexus in the second quarter worth $278,000. Institutional investors and hedge funds own 94.16% of the company’s stock.

Several equities research analysts recently commented 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 raised 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price objective on shares of Plexus in a research report on Tuesday, September 12th. ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, Citigroup raised their target price on Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.86.

In other news, CEO Todd P. Kelsey sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $61.71, for a total value of $246,840.00. Following the transaction, the chief executive officer now owns 58,425 shares of the company’s stock, valued at $3,605,406.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ronnie Darroch sold 4,513 shares of Plexus stock in a transaction that occurred 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 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. Insiders sold 205,696 shares of company stock worth $12,706,971 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Shares of Plexus Corp. (NASDAQ PLXS) traded down $0.49 during trading hours on Wednesday, reaching $60.70. The company’s stock had a trading volume of 132,573 shares, compared to its average volume of 173,600. 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 Corp. has a fifty-two week low of $49.06 and a fifty-two week high of $64.12. The stock has a market capitalization of $2,050.00, a PE ratio of 18.98 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The firm had revenue of $670.00 million for the quarter, compared to the consensus estimate of $676.23 million. During the same quarter last year, the company earned $0.82 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities analysts forecast that Plexus Corp. will post 3.41 earnings per share for the current year.

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About Plexus

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.

Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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