Trade Report: Today, 2,435 Shares of Plexus Corp. (PLXS) are sold by Jennison Associates LLC

Today, 2,435 Shares of Plexus Corp. (PLXS) are sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 5.7% during the third quarter, Holdings Channel reports. The institutional investor owned 40,120 shares of the company’s stock after selling 2,435 shares during the period. Jennison Associates LLC owned approximately 0.12% of Plexus Corp. worth $1,877,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Artemis Investment Management LLP bought a new stake in Plexus Corp. during the second quarter valued at about $15,547,000. Smith Asset Management Group LP raised its stake in Plexus Corp. by 205,750.0% in the second quarter. Smith Asset Management Group LP now owns 65,872 shares of the company’s stock valued at $2,846,000 after buying an additional 65,840 shares in the last quarter. Swiss National Bank raised its stake in Plexus Corp. by 1.4% in the second quarter. Swiss National Bank now owns 56,200 shares of the company’s stock valued at $2,428,000 after buying an additional 800 shares in the last quarter. Hancock Holding Co. bought a new stake in Plexus Corp. during the second quarter valued at about $864,000. Finally, Mason Street Advisors LLC bought a new stake in Plexus Corp. during the second quarter valued at about $282,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Plexus Corp. (NASDAQ:PLXS) opened at 51.39 on Friday. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 22.94 and a beta of 1.12. Plexus Corp. has a 1-year low of $28.72 and a 1-year high of $51.65. The stock has a 50 day moving average price of $47.32 and a 200-day moving average price of $45.59.

Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The company earned $653.06 million during the quarter, compared to analyst estimates of $670.53 million. Plexus Corp. had a return on equity of 9.77% and a net margin of 2.99%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, equities research analysts forecast that Plexus Corp. will post $3.27 EPS for the current year.

PLXS has been the subject of several recent research reports. Needham & Company LLC set a $52.00 price target on Plexus Corp. and gave the company a “buy” rating in a report on Friday, September 16th. Zacks Investment Research lowered Plexus Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, B. Riley reissued a “neutral” rating and set a $50.00 price target on shares of Plexus Corp. in a report on Tuesday, November 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.80.

In related news, Chairman Dean A. Foate sold 7,995 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $46.76, for a total value of $373,846.20. Following the completion of the transaction, the chairman now owns 241,692 shares in the company, valued at approximately $11,301,517.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dean A. Foate sold 41,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $51.10, for a total value of $2,095,100.00. Following the completion of the transaction, the chairman now owns 251,856 shares of the company’s stock, valued at approximately $12,869,841.60. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

About Plexus Corp.

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus 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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