JPMorgan Chase & Co. Sells 9,204 Shares of Plexus Corp. (NASDAQ:PLXS)

JPMorgan Chase & Co. trimmed its holdings in Plexus Corp. (NASDAQ:PLXS) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,821 shares of the technology company’s stock after selling 9,204 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.39% of Plexus worth $14,330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in Plexus by 102.7% in the 3rd quarter. Tidal Investments LLC now owns 5,723 shares of the technology company’s stock worth $782,000 after purchasing an additional 2,899 shares during the period. Geode Capital Management LLC boosted its position in shares of Plexus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock valued at $89,392,000 after acquiring an additional 4,926 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Plexus by 2.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after acquiring an additional 59,465 shares during the last quarter. Barclays PLC boosted its position in shares of Plexus by 139.4% during the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Plexus during the 3rd quarter valued at approximately $286,000. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Plexus Stock Down 1.4 %

Shares of PLXS opened at $161.20 on Friday. The company has a market cap of $4.37 billion, a PE ratio of 40.20 and a beta of 0.91. The business has a fifty day moving average of $160.85 and a 200 day moving average of $137.03. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $170.07. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping 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 return on equity of 9.51% and a net margin of 2.82%. Plexus’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. On average, sell-side analysts expect that Plexus Corp. will post 6.14 EPS for the current year.

Insider Buying and Selling

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the sale, the chief accounting officer now owns 35,323 shares in the company, valued at $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the sale, the chief executive officer now owns 74,271 shares in the company, valued at approximately $11,615,241.69. The trade was a 1.98 % 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 three months. 1.76% of the stock is owned by insiders.

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.