Profit Investment Management LLC increased its position in shares of Plexus Corp. (NASDAQ:PLXS) by 63.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,256 shares of the company’s stock after buying an additional 11,359 shares during the period. Plexus Corp. makes up 1.4% of Profit Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Profit Investment Management LLC’s holdings in Plexus Corp. were worth $1,369,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. State Street Corp raised its stake in Plexus Corp. by 6.3% in the first quarter. State Street Corp now owns 684,887 shares of the company’s stock worth $27,067,000 after buying an additional 40,685 shares during the period. Panagora Asset Management Inc. raised its stake in Plexus Corp. by 4.1% in the first quarter. Panagora Asset Management Inc. now owns 290,865 shares of the company’s stock worth $11,495,000 after buying an additional 11,511 shares during the period. BNP Paribas Arbitrage SA raised its stake in Plexus Corp. by 93.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,389 shares of the company’s stock worth $492,000 after buying an additional 5,515 shares during the period. 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 worth $2,846,000 after buying an additional 65,840 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in Plexus Corp. during the second quarter worth about $15,547,000. Institutional investors and hedge funds own 94.67% of the company’s stock.
Plexus Corp. (NASDAQ:PLXS) traded down 0.90% on Monday, reaching $50.93. The company’s 50-day moving average is $47.44 and its 200-day moving average is $45.70. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 22.74 and a beta of 1.12. Plexus Corp. has a 12-month low of $28.72 and a 12-month high of $51.75.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Plexus Corp. had a net margin of 2.99% and a return on equity of 9.77%. The company earned $653.06 million during the quarter, compared to the consensus estimate of $670.53 million. During the same period last year, the firm earned $0.69 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts predict that Plexus Corp. will post $3.27 EPS for the current year.
PLXS has been the subject of a number of analyst reports. B. Riley restated a “neutral” rating and issued a $50.00 price target on shares of Plexus Corp. in a research report on Tuesday, August 9th. Needham & Company LLC set a $52.00 price objective on Plexus Corp. and gave the company a “buy” rating in a report on Friday, September 16th. Finally, Zacks Investment Research cut Plexus Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Plexus Corp. has an average rating of “Hold” and a consensus price target of $49.80.
In other news, insider Yong Jin Lim sold 10,000 shares of Plexus Corp. stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $51.19, for a total transaction of $511,900.00. Following the completion of the sale, the insider now directly owns 50,000 shares in the company, valued at approximately $2,559,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 17,750 shares of Plexus Corp. stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $49.92, for a total transaction of $886,080.00. Following the sale, the chief executive officer now owns 45,162 shares of the company’s stock, valued at $2,254,487.04. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
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.