Assenagon Asset Management S.A. Sells 2,861 Shares of Plexus Corp. (NASDAQ:PLXS)

Assenagon Asset Management S.A. reduced its position in shares of Plexus Corp. (NASDAQ:PLXS) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,714 shares of the technology company’s stock after selling 2,861 shares during the quarter. Assenagon Asset Management S.A. owned 0.29% of Plexus worth $12,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN grew its position in Plexus by 0.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after buying an additional 7,245 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Plexus during the 3rd quarter worth $899,000. Victory Capital Management Inc. grew its position in shares of Plexus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock valued at $27,367,000 after acquiring an additional 7,483 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Plexus by 62.6% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company’s stock worth $1,825,000 after purchasing an additional 5,138 shares in the last quarter. Finally, Barclays PLC raised its holdings in Plexus by 139.4% in the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after purchasing an additional 28,406 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Trading Up 1.5 %

PLXS stock opened at $167.36 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $170.07. The business has a 50 day simple moving average of $161.73 and a two-hundred day simple moving average of $139.87. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 41.74 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. Plexus’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 earnings per share. Research analysts anticipate that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Insider Activity

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now directly owns 35,323 shares in the company, valued at approximately $5,093,223.37. This represents a 8.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Oliver K. Mihm sold 5,691 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total transaction of $950,738.46. Following the sale, the chief operating officer now directly owns 19,585 shares in the company, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,091 shares of company stock worth $5,377,960 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLXS. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Needham & Company LLC increased their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Benchmark raised their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Stifel Nicolaus upped their price target on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Plexus currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

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.