Allspring Global Investments Holdings LLC Purchases New Stake in Plexus Corp. (NASDAQ:PLXS)

Allspring Global Investments Holdings LLC purchased a new stake in Plexus Corp. (NASDAQ:PLXS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,043 shares of the technology company’s stock, valued at approximately $783,000.

Several other hedge funds have also recently bought and sold shares of PLXS. Pacer Advisors Inc. purchased a new position in Plexus in the fourth quarter valued at approximately $107,489,000. Disciplined Growth Investors Inc. MN raised its holdings in Plexus by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after buying an additional 59,465 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock valued at $11,289,000 after purchasing an additional 50,564 shares during the period. Algert Global LLC raised its stake in shares of Plexus by 1,546.5% during the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after purchasing an additional 43,009 shares during the period. Finally, Barclays PLC raised its stake in shares of Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $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.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus initiated coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.00.

Plexus Stock Down 1.7 %

PLXS stock opened at $137.34 on Monday. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.71 billion, a P/E ratio of 31.87 and a beta of 0.89. The firm has a 50 day simple moving average of $153.12 and a 200-day simple moving average of $145.25.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. On average, equities research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of Plexus stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the transaction, the chief accounting officer now owns 29,501 shares of the company’s stock, valued at $4,281,775.14. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total transaction of $234,585.00. Following the completion of the transaction, the chief executive officer now directly owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,208 shares of company stock valued at $2,613,240. 1.76% of the stock is currently owned by corporate insiders.

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.