Voya Investment Management LLC increased its stake in Plexus Corp. (NASDAQ:PLXS) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,923 shares of the technology company’s stock after buying an additional 28,924 shares during the period. Voya Investment Management LLC owned 1.28% of Plexus worth $24,645,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in PLXS. Envestnet Asset Management Inc. increased its stake in shares of Plexus by 281.1% during the first quarter. Envestnet Asset Management Inc. now owns 3,224 shares of the technology company’s stock valued at $185,000 after purchasing an additional 2,378 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Plexus during the second quarter valued at approximately $205,000. Koch Industries Inc. bought a new stake in shares of Plexus during the first quarter valued at approximately $220,000. WINTON GROUP Ltd bought a new stake in shares of Plexus during the first quarter valued at approximately $244,000. Finally, Trexquant Investment LP bought a new stake in shares of Plexus during the first quarter valued at approximately $270,000. 97.29% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. BidaskClub downgraded shares of Plexus from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Plexus in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Plexus presently has an average rating of “Hold” and an average target price of $69.25.
Shares of Plexus stock opened at $54.34 on Tuesday. The firm has a market cap of $1.89 billion, a PE ratio of 16.65 and a beta of 0.67. Plexus Corp. has a 1-year low of $53.21 and a 1-year high of $66.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 2.11.
Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, July 18th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Plexus had a negative net margin of 1.11% and a positive return on equity of 11.37%. The firm had revenue of $726.39 million for the quarter, compared to analysts’ expectations of $721.08 million. During the same quarter last year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts expect that Plexus Corp. will post 3.15 EPS for the current fiscal year.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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