Royce & Associates LP Lowers Stock Position in Plexus Corp. (NASDAQ:PLXS)

Royce & Associates LP reduced its position in Plexus Corp. (NASDAQ:PLXS) by 75.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,193 shares of the technology company’s stock after selling 113,407 shares during the quarter. Royce & Associates LP owned about 0.12% of Plexus worth $2,267,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PLXS. Quadrant Capital Group LLC boosted its position in Plexus by 1,548.3% during the 1st quarter. Quadrant Capital Group LLC now owns 989 shares of the technology company’s stock worth $59,000 after buying an additional 929 shares during the period. Investors Research Corp acquired a new position in shares of Plexus in the 1st quarter worth approximately $73,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Plexus in the 4th quarter worth approximately $128,000. NumerixS Investment Technologies Inc acquired a new position in shares of Plexus in the 4th quarter worth approximately $161,000. Finally, Jane Street Group LLC acquired a new position in shares of Plexus in the 4th quarter worth approximately $275,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on PLXS shares. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Plexus in a research note on Tuesday, April 23rd. BidaskClub lowered shares of Plexus from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Sidoti started coverage on shares of Plexus in a research note on Wednesday, March 20th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Plexus from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.00.

In related news, CFO Patrick John Jermain sold 4,475 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $60.41, for a total value of $270,334.75. Following the transaction, the chief financial officer now directly owns 33,611 shares of the company’s stock, valued at approximately $2,030,440.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dean A. Foate sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $63.00, for a total transaction of $630,000.00. Following the completion of the transaction, the chairman now directly owns 234,753 shares in the company, valued at $14,789,439. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,493 shares of company stock valued at $2,115,704. Company insiders own 3.90% of the company’s stock.

PLXS stock traded up $0.71 during midday trading on Friday, reaching $58.37. 462,900 shares of the company’s stock traded hands, compared to its average volume of 170,749. The firm has a market capitalization of $1.71 billion, a P/E ratio of 18.07 and a beta of 0.90. The firm has a fifty day simple moving average of $54.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 1.83. Plexus Corp. has a 52 week low of $47.63 and a 52 week high of $66.98.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, April 17th. The technology company reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.05). Plexus had a net margin of 4.79% and a return on equity of 12.52%. The business had revenue of $789.10 million for the quarter, compared to the consensus estimate of $779.03 million. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that Plexus Corp. will post 3.46 earnings per share for the current year.

Plexus Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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