Natixis Advisors LLC Buys 2,235 Shares of Plexus Corp. (NASDAQ:PLXS)

Natixis Advisors LLC boosted its position in Plexus Corp. (NASDAQ:PLXS) by 13.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,923 shares of the technology company’s stock after buying an additional 2,235 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Plexus worth $2,587,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PLXS. Vanguard Group Inc. grew its holdings in shares of Plexus by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after buying an additional 74,988 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Plexus by 0.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 23,461 shares of the technology company’s stock worth $2,219,000 after purchasing an additional 209 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Plexus by 4.8% in the first 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of Plexus by 68.4% during the first quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock valued at $6,281,000 after buying an additional 26,904 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Plexus by 40.0% in the 1st quarter. Tidal Investments LLC now owns 3,364 shares of the technology company’s stock worth $319,000 after acquiring an additional 961 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $162.01 on Monday. The company has a 50 day moving average of $143.00 and a 200 day moving average of $124.30. The stock has a market cap of $4.39 billion, a P/E ratio of 40.40 and a beta of 0.87. 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.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $1.44 earnings per share. Plexus’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Plexus Corp. will post 6.14 EPS for the current fiscal year.

Insider Activity

In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now owns 8,605 shares of the company’s stock, valued at $1,097,137.50. This trade represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,091 shares of company stock valued at $5,334,885. Corporate insiders own 2.39% of the company’s stock.

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.