Plexus Corp. (NASDAQ:PLXS) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Plexus Corp. (NASDAQ:PLXS) by 35.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,880 shares of the technology company’s stock after buying an additional 2,573 shares during the period. BNP Paribas Financial Markets’ holdings in Plexus were worth $1,351,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PLXS. Disciplined Growth Investors Inc. MN grew its stake in Plexus by 0.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after acquiring an additional 7,245 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after purchasing an additional 87,574 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Plexus by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after purchasing an additional 23,074 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Plexus by 7.4% in the 2nd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Plexus by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock valued at $57,678,000 after buying an additional 2,886 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Plexus

In related news, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. This represents a 22.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 539 shares of Plexus stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the transaction, the insider now directly owns 1,030 shares in the company, valued at approximately $160,546.10. This trade represents a 34.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock worth $5,143,375 in the last ninety days. Insiders own 2.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Plexus Stock Up 1.4 %

PLXS opened at $167.94 on Tuesday. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $170.07. The business has a 50-day moving average of $150.32 and a two-hundred day moving average of $128.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 41.88 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released 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 firm 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%. Plexus’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share. On average, research analysts expect that Plexus Corp. will post 6.14 earnings per share for the current year.

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.