Bank of New York Mellon Corp Sells 46,596 Shares of Plexus Corp. (NASDAQ:PLXS)

Bank of New York Mellon Corp reduced its stake in Plexus Corp. (NASDAQ:PLXS) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,675 shares of the technology company’s stock after selling 46,596 shares during the period. Bank of New York Mellon Corp owned approximately 1.23% of Plexus worth $52,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Plexus during the third quarter worth $208,000. Farther Finance Advisors LLC lifted its stake in Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after purchasing an additional 219 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Plexus by 6.5% during the third quarter. Harbor Capital Advisors Inc. now owns 7,744 shares of the technology company’s stock worth $1,059,000 after purchasing an additional 476 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Plexus by 13.9% during the third quarter. QRG Capital Management Inc. now owns 4,226 shares of the technology company’s stock worth $578,000 after purchasing an additional 516 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Plexus by 9.5% during the third quarter. Crossmark Global Holdings Inc. now owns 3,977 shares of the technology company’s stock worth $544,000 after purchasing an additional 344 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 1.2 %

Shares of NASDAQ:PLXS opened at $127.41 on Thursday. The company has a market capitalization of $3.45 billion, a PE ratio of 29.56 and a beta of 0.89. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $172.89. The company has a fifty day moving average of $149.02 and a 200-day moving average of $145.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data 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 net margin of 3.03% and a return on equity of 10.36%. On average, equities analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $165.00 target price on shares of Plexus in a research note on Wednesday, January 22nd. Stifel Nicolaus assumed coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price for the company. Needham & Company LLC upped their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and three have issued 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 target price of $163.00.

Insiders Place Their Bets

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the transaction, the chief accounting officer now owns 29,501 shares of the company’s stock, valued at $4,281,775.14. This represents a 10.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frank Zycinski sold 1,200 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $140.84, for a total transaction of $169,008.00. Following the transaction, the insider now directly owns 723 shares in the company, valued at $101,827.32. This trade represents a 62.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,458 shares of company stock worth $2,786,515. Company insiders own 1.76% of the company’s stock.

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.