American Century Companies Inc. Buys 106,103 Shares of Plexus Corp. (NASDAQ:PLXS)

American Century Companies Inc. boosted its position in shares of Plexus Corp. (NASDAQ:PLXS) by 204.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 158,032 shares of the technology company’s stock after acquiring an additional 106,103 shares during the period. American Century Companies Inc. owned 0.58% of Plexus worth $16,306,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PLXS. Parallel Advisors LLC raised its position in shares of Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after purchasing an additional 146 shares during the period. Quest Partners LLC raised its holdings in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares during the period. Innealta Capital LLC purchased a new position in shares of Plexus in the second quarter valued at about $51,000. EntryPoint Capital LLC boosted its stake in shares of Plexus by 56.2% in the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after acquiring an additional 351 shares during the period. Finally, Signaturefd LLC grew its position in shares of Plexus by 12.0% during the second quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock worth $176,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total transaction of $190,440.00. Following the sale, the chief executive officer now directly owns 96,682 shares of the company’s stock, valued at $11,118,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the transaction, the chief executive officer now directly owns 96,682 shares of the company’s stock, valued at $11,118,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,769 shares of company stock valued at $2,731,834. Insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the subject of several recent analyst reports. Benchmark upped their price target on Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC upped their target price on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plexus presently has a consensus rating of “Hold” and a consensus price target of $124.00.

Plexus Stock Performance

NASDAQ:PLXS opened at $131.03 on Friday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 36.20 and a beta of 0.89. Plexus Corp. has a 1 year low of $87.21 and a 1 year high of $132.68. The stock’s 50 day simple moving average is $122.97 and its two-hundred day simple moving average is $108.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The company had revenue of $960.70 million for the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter in the previous year, the business posted $1.32 earnings per share. Plexus’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities analysts anticipate that Plexus Corp. will post 3.74 earnings per share for the current fiscal year.

About Plexus

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.