New York Life Investment Management LLC Cuts Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

New York Life Investment Management LLC cut its stake in shares of Plexus Corp. (NASDAQ:PLXSFree Report) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,649 shares of the technology company’s stock after selling 575 shares during the quarter. New York Life Investment Management LLC’s holdings in Plexus were worth $339,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in Plexus by 0.3% during the 1st quarter. BlackRock Inc. now owns 4,425,537 shares of the technology company’s stock valued at $362,052,000 after purchasing an additional 15,398 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Plexus by 5.4% during the third quarter. Vanguard Group Inc. now owns 3,215,591 shares of the technology company’s stock valued at $281,557,000 after acquiring an additional 163,722 shares in the last quarter. State Street Corp raised its holdings in Plexus by 0.9% in the 2nd quarter. State Street Corp now owns 963,385 shares of the technology company’s stock worth $94,643,000 after acquiring an additional 8,122 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Plexus by 29.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 768,685 shares of the technology company’s stock valued at $75,516,000 after acquiring an additional 172,638 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in Plexus by 2.9% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 632,940 shares of the technology company’s stock valued at $62,180,000 after purchasing an additional 17,823 shares during the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

Insiders Place Their Bets

In other Plexus news, insider Steven J. Frisch sold 3,338 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $94.49, for a total transaction of $315,407.62. Following the completion of the sale, the insider now owns 61,874 shares of the company’s stock, valued at $5,846,474.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $109.00, for a total transaction of $218,000.00. Following the transaction, the chief executive officer now owns 112,900 shares of the company’s stock, valued at $12,306,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven J. Frisch sold 3,338 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $94.49, for a total transaction of $315,407.62. Following the completion of the sale, the insider now directly owns 61,874 shares of the company’s stock, valued at $5,846,474.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,727 shares of company stock worth $2,447,805. Company insiders own 2.39% of the company’s stock.

Plexus Price Performance

Shares of PLXS opened at $99.89 on Tuesday. The firm has a market cap of $2.75 billion, a PE ratio of 22.25 and a beta of 1.05. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15. Plexus Corp. has a 1-year low of $83.84 and a 1-year high of $114.06. The firm has a fifty day simple moving average of $102.23 and a two-hundred day simple moving average of $98.81.

Plexus (NASDAQ:PLXSGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). Plexus had a net margin of 3.08% and a return on equity of 12.16%. The firm had revenue of $982.61 million for the quarter, compared to the consensus estimate of $982.57 million. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Plexus Corp. will post 4.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PLXS shares. Needham & Company LLC decreased their price target on Plexus from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th. Finally, Sidoti cut shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research note on Tuesday, January 9th.

View Our Latest Stock Analysis on Plexus

About Plexus

(Free Report)

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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