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Teacher Retirement System of Texas Sells 17,753 Shares of Plexus Corp. (NASDAQ:PLXS)

Plexus logo with Computer and Technology background

Teacher Retirement System of Texas trimmed its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,262 shares of the technology company's stock after selling 17,753 shares during the quarter. Teacher Retirement System of Texas owned about 0.17% of Plexus worth $6,056,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of Plexus in the fourth quarter valued at about $2,277,000. Raymond James Financial Inc. bought a new stake in shares of Plexus in the fourth quarter valued at about $15,892,000. Edgestream Partners L.P. bought a new stake in shares of Plexus in the fourth quarter valued at about $1,503,000. Amundi boosted its position in shares of Plexus by 192.1% in the fourth quarter. Amundi now owns 14,000 shares of the technology company's stock valued at $2,289,000 after acquiring an additional 9,207 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Plexus in the fourth quarter valued at about $1,516,000. 94.45% of the stock is owned by institutional investors.

Plexus Stock Up 0.8%

PLXS stock opened at $140.15 on Monday. The company has a market cap of $3.80 billion, a PE ratio of 27.27 and a beta of 0.80. The business has a 50-day simple moving average of $131.59 and a 200 day simple moving average of $136.06. Plexus Corp. has a 52 week low of $102.00 and a 52 week high of $172.89. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.12. The business had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. Plexus had a return on equity of 11.17% and a net margin of 3.60%. Plexus's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research report on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

Get Our Latest Research Report on Plexus

Insider Activity

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $130.77, for a total transaction of $65,385.00. Following the completion of the transaction, the director owned 9,365 shares of the company's stock, valued at approximately $1,224,661.05. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $132.22, for a total value of $272,108.76. Following the transaction, the chief accounting officer directly owned 26,133 shares of the company's stock, valued at approximately $3,455,305.26. The trade was a 7.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,032 shares of company stock valued at $1,582,222. Corporate insiders own 1.76% of the company's stock.

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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