Thrivent Financial for Lutherans Cuts Holdings in Plexus Corp. (NASDAQ:PLXS)

Thrivent Financial for Lutherans lessened its stake in Plexus Corp. (NASDAQ:PLXS) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 767,029 shares of the technology company’s stock after selling 2,415 shares during the quarter. Thrivent Financial for Lutherans owned 2.80% of Plexus worth $79,142,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PLXS. Vanguard Group Inc. lifted its stake in Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Fiduciary Management Inc. WI lifted its position in shares of 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Plexus by 8.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after purchasing an additional 87,574 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Plexus by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock valued at $46,772,000 after buying an additional 31,099 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Plexus by 28.8% in the first quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock valued at $36,434,000 after buying an additional 85,986 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of PLXS stock opened at $131.03 on Friday. The stock’s 50-day moving average is $122.97 and its two-hundred day moving average is $108.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. Plexus Corp. has a 1 year low of $87.21 and a 1 year high of $132.68. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 36.20 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The firm had revenue of $960.70 million for the quarter, compared to the consensus estimate of $981.32 million. During the same quarter last year, the business posted $1.32 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts predict that Plexus Corp. will post 3.74 earnings per share for the current year.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price objective on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a report on Friday, July 26th. Benchmark upped their price target on Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $124.00.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,656 shares of the 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 sale, the chief executive officer now owns 96,682 shares in the company, valued at approximately $11,118,430. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the transaction, the director now owns 9,586 shares of the company’s stock, valued at $1,227,199.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 1,656 shares of the company’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 value of $190,440.00. Following the sale, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The disclosure for this sale can be found here. Insiders have sold 21,769 shares of company stock valued at $2,731,834 in the last ninety days. 2.39% of the stock is currently owned by company insiders.

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.