Vanguard Group Inc. Cuts Stock Position in Plexus Corp. (NASDAQ:PLXS)

Vanguard Group Inc. lowered its position in Plexus Corp. (NASDAQ:PLXS) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,440,878 shares of the technology company’s stock after selling 13,062 shares during the period. Vanguard Group Inc. owned approximately 12.47% of Plexus worth $372,062,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Fiduciary Management Inc. WI grew its position in Plexus by 3.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after purchasing an additional 44,398 shares during the last quarter. Quadrature Capital Ltd grew its position in Plexus by 49.9% during the 4th quarter. Quadrature Capital Ltd now owns 21,208 shares of the technology company’s stock worth $2,287,000 after purchasing an additional 7,057 shares during the last quarter. Homestead Advisers Corp grew its position in Plexus by 24.0% during the 4th quarter. Homestead Advisers Corp now owns 35,600 shares of the technology company’s stock worth $3,849,000 after purchasing an additional 6,900 shares during the last quarter. Premier Fund Managers Ltd grew its position in Plexus by 87.1% during the 4th quarter. Premier Fund Managers Ltd now owns 5,078 shares of the technology company’s stock worth $556,000 after purchasing an additional 2,364 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in Plexus by 294.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 9,670 shares of the technology company’s stock worth $1,046,000 after purchasing an additional 7,221 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 0.4 %

PLXS stock opened at $102.39 on Friday. The firm’s fifty day simple moving average is $105.19 and its 200-day simple moving average is $100.63. The company has a market capitalization of $2.81 billion, a P/E ratio of 28.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. Plexus Corp. has a 12 month low of $87.21 and a 12 month high of $114.27.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The firm had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $950.75 million. During the same period in the previous year, the business posted $1.45 EPS. The business’s revenue was down 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Plexus Corp. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLXS has been the topic of several research analyst reports. Benchmark boosted their target price on shares of Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Needham & Company LLC upped their price objective on shares of Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus upped their price objective on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Plexus has a consensus rating of “Hold” and a consensus price target of $110.25.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $113.40, for a total value of $113,400.00. Following the completion of the transaction, the chief executive officer now directly owns 103,338 shares in the company, valued at approximately $11,718,529.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $102.66, for a total transaction of $230,985.00. Following the completion of the transaction, the chief accounting officer now directly owns 38,560 shares in the company, valued at $3,958,569.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $113.40, for a total transaction of $113,400.00. Following the transaction, the chief executive officer now owns 103,338 shares of the company’s stock, valued at $11,718,529.20. The disclosure for this sale can be found here. Insiders sold a total of 33,730 shares of company stock worth $3,559,444 in the last three months. Company insiders own 2.39% of the company’s stock.

Plexus Company Profile

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.