Plexus Corp. (NASDAQ:PLXS) Holdings Lowered by Profit Investment Management LLC

Profit Investment Management LLC lowered its stake in Plexus Corp. (NASDAQ:PLXSFree Report) by 15.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,237 shares of the technology company’s stock after selling 8,150 shares during the quarter. Plexus makes up 2.5% of Profit Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. Profit Investment Management LLC’s holdings in Plexus were worth $4,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Plexus in the fourth quarter valued at $19,533,000. Westfield Capital Management Co. LP boosted its position in Plexus by 108.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock worth $32,251,000 after acquiring an additional 155,447 shares during the period. Vanguard Group Inc. grew its stake in Plexus by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock valued at $321,147,000 after acquiring an additional 47,762 shares in the last quarter. Fiduciary Management Inc. WI increased its holdings in shares of Plexus by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after purchasing an additional 44,398 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Plexus by 98.0% in the third quarter. Envestnet Asset Management Inc. now owns 58,710 shares of the technology company’s stock worth $5,459,000 after purchasing an additional 29,055 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Up 1.0 %

PLXS traded up $1.07 during midday trading on Friday, hitting $103.72. 439,719 shares of the company’s stock traded hands, compared to its average volume of 89,164. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. The company has a market cap of $2.84 billion, a PE ratio of 28.65 and a beta of 0.95. The stock’s fifty day simple moving average is $104.52 and its 200-day simple moving average is $100.59. Plexus Corp. has a one year low of $87.21 and a one year high of $114.27.

Plexus (NASDAQ:PLXSGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. During the same quarter in the prior year, the business posted $1.45 EPS. Plexus’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Plexus Corp. will post 3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Benchmark boosted their price target on shares of Plexus from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.25.

Check Out Our Latest Stock Analysis on Plexus

Insiders Place Their Bets

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $113.40, for a total value of $113,400.00. Following the completion of the sale, the chief executive officer now owns 103,338 shares of the company’s stock, valued at $11,718,529.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Todd P. Kelsey sold 1,000 shares of Plexus stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $113.40, for a total value of $113,400.00. Following the transaction, the chief executive officer now owns 103,338 shares of the company’s stock, valued at $11,718,529.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Patrick John Jermain sold 4,750 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total transaction of $477,042.50. Following the completion of the sale, the chief financial officer now owns 42,932 shares of the company’s stock, valued at $4,311,660.76. The disclosure for this sale can be found here. Insiders have sold 33,730 shares of company stock valued at $3,559,444 over the last three months. 2.39% of the stock is currently owned by insiders.

Plexus Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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