Advisors Asset Management Inc. Purchases 305 Shares of Plexus Corp. (NASDAQ:PLXS)

Advisors Asset Management Inc. raised its position in shares of Plexus Corp. (NASDAQ:PLXS) by 85.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 664 shares of the technology company’s stock after purchasing an additional 305 shares during the period. Advisors Asset Management Inc.’s holdings in Plexus were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in PLXS. Price T Rowe Associates Inc. MD increased its position in Plexus by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,513 shares of the technology company’s stock valued at $2,135,000 after purchasing an additional 1,022 shares during the period. Janus Henderson Group PLC lifted its holdings in Plexus by 68.4% during the first quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock worth $6,281,000 after buying an additional 26,904 shares during the period. Tidal Investments LLC boosted its position in Plexus by 40.0% during the 1st quarter. Tidal Investments LLC now owns 3,364 shares of the technology company’s stock valued at $319,000 after acquiring an additional 961 shares in the last quarter. Comerica Bank increased its holdings in shares of Plexus by 22.5% in the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock valued at $7,758,000 after acquiring an additional 15,046 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Plexus by 269.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock worth $750,000 after acquiring an additional 5,303 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Stock Performance

PLXS opened at $164.40 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $169.41. The firm has a 50 day moving average of $145.72 and a two-hundred day moving average of $125.60. The firm has a market capitalization of $4.45 billion, a PE ratio of 40.48 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Plexus Corp. will post 6.14 EPS for the current year.

Insider Buying and Selling

In other news, CFO Patrick John Jermain sold 5,045 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $143.13, for a total transaction of $722,090.85. Following the sale, the chief financial officer now directly owns 24,602 shares of the company’s stock, valued at $3,521,284.26. This represents a 17.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Running sold 539 shares of Plexus stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total value of $84,013.93. Following the completion of the transaction, the insider now owns 1,030 shares of the company’s stock, valued at approximately $160,546.10. This represents a 34.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,591 shares of company stock valued at $5,143,375 over the last ninety days. Company insiders own 2.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PLXS. Benchmark lifted their target price on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp began coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Needham & Company LLC boosted their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

Plexus 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.