Texas Permanent School Fund Sells 1,003 Shares of Plexus Corp. (PLXS)

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Texas Permanent School Fund trimmed its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 4.7% in the third quarter, HoldingsChannel.com reports. The fund owned 20,282 shares of the technology company’s stock after selling 1,003 shares during the period. Texas Permanent School Fund’s holdings in Plexus were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Plexus in the second quarter valued at $214,000. California Public Employees Retirement System raised its position in Plexus by 8.1% in the second quarter. California Public Employees Retirement System now owns 106,779 shares of the technology company’s stock valued at $6,358,000 after purchasing an additional 7,989 shares during the period. Paloma Partners Management Co purchased a new position in Plexus in the second quarter valued at about $270,000. Voya Investment Management LLC raised its position in Plexus by 7.5% in the second quarter. Voya Investment Management LLC now owns 413,923 shares of the technology company’s stock valued at $24,645,000 after purchasing an additional 28,924 shares during the period. Finally, Laurion Capital Management LP purchased a new position in Plexus in the second quarter valued at about $1,067,000. 97.40% of the stock is owned by institutional investors.

In other news, CEO Todd P. Kelsey sold 17,050 shares of Plexus stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $59.14, for a total transaction of $1,008,337.00. Following the sale, the chief executive officer now directly owns 72,031 shares of the company’s stock, valued at $4,259,913.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven J. Frisch sold 5,000 shares of Plexus stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $61.76, for a total value of $308,800.00. Following the sale, the vice president now directly owns 27,415 shares in the company, valued at $1,693,150.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,666 shares of company stock worth $5,678,679. Corporate insiders own 3.70% of the company’s stock.

Several research firms have commented on PLXS. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Plexus in a research report on Friday, July 20th. BidaskClub raised Plexus from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, ValuEngine lowered Plexus from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $70.67.

Shares of NASDAQ PLXS opened at $58.19 on Friday. Plexus Corp. has a 1 year low of $52.44 and a 1 year high of $66.78. The stock has a market cap of $1.94 billion, a PE ratio of 18.02 and a beta of 0.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 2.06.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. Plexus had a return on equity of 11.98% and a net margin of 0.45%. The business had revenue of $771.18 million for the quarter, compared to analyst estimates of $760.98 million. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Plexus Corp. will post 3.87 earnings per share for the current year.

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About Plexus

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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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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