American International Group Inc. Sells 121 Shares of Plexus Corp. (NASDAQ:PLXS)

Posted by on Jun 7th, 2023

American International Group Inc. cut its holdings in shares of Plexus Corp. (NASDAQ:PLXS – Get Rating) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,940 shares of the technology company’s stock after selling 121 shares during the quarter. American International Group Inc. owned approximately 0.05% of Plexus worth $1,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Congress Asset Management Co. MA lifted its position in Plexus by 0.7% during the 4th quarter. Congress Asset Management Co. MA now owns 14,319 shares of the technology company’s stock worth $1,474,000 after buying an additional 95 shares in the last quarter. FCA Corp TX raised its holdings in shares of Plexus by 0.7% in the 3rd quarter. FCA Corp TX now owns 14,151 shares of the technology company’s stock valued at $1,239,000 after purchasing an additional 98 shares during the period. Amalgamated Bank raised its holdings in shares of Plexus by 0.8% in the 3rd quarter. Amalgamated Bank now owns 13,289 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 104 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Plexus by 0.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,381 shares of the technology company’s stock valued at $1,286,000 after purchasing an additional 153 shares during the period. Finally, MQS Management LLC raised its holdings in shares of Plexus by 2.1% in the 3rd quarter. MQS Management LLC now owns 7,782 shares of the technology company’s stock valued at $681,000 after purchasing an additional 161 shares during the period. 96.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Plexus in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.00.

Plexus Stock Performance

Shares of NASDAQ:PLXS opened at $93.73 on Wednesday. The company’s 50 day moving average price is $90.61 and its two-hundred day moving average price is $98.35. Plexus Corp. has a 12-month low of $74.53 and a 12-month high of $115.36. The firm has a market cap of $2.59 billion, a PE ratio of 15.49 and a beta of 1.10. The company has a quick ratio of 0.59, a current ratio of 1.45 and a debt-to-equity ratio of 0.16.

Plexus (NASDAQ:PLXS – Get Rating) last announced its earnings results on Wednesday, April 26th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.29. Plexus had a net margin of 4.00% and a return on equity of 15.24%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. Equities research analysts predict that Plexus Corp. will post 5.48 earnings per share for the current year.

Insider Transactions at Plexus

In other news, EVP Ronnie Darroch sold 4,424 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $89.12, for a total transaction of $394,266.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.05% of the stock is currently owned by insiders.

Plexus Profile

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Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense market sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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