Deutsche Bank AG Acquires 8,921 Shares of Plexus Corp. (NASDAQ:PLXS)

Deutsche Bank AG raised its holdings in Plexus Corp. (NASDAQ:PLXS) by 22.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 47,997 shares of the technology company’s stock after acquiring an additional 8,921 shares during the quarter. Deutsche Bank AG’s holdings in Plexus were worth $6,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC increased its stake in shares of Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock worth $37,000 after purchasing an additional 134 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company’s stock worth $61,000 after purchasing an additional 430 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Plexus by 185.6% during the 1st quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company’s stock worth $66,000 after purchasing an additional 334 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Plexus during the 1st quarter worth about $87,000. Finally, Blue Trust Inc. increased its stake in shares of Plexus by 49.2% during the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company’s stock worth $108,000 after purchasing an additional 279 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plexus

In other news, CFO Patrick John Jermain sold 2,178 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $130.42, for a total transaction of $284,054.76. Following the completion of the sale, the chief financial officer owned 23,459 shares of the company’s stock, valued at approximately $3,059,522.78. This represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Running sold 646 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $130.05, for a total transaction of $84,012.30. Following the sale, the insider directly owned 630 shares of the company’s stock, valued at approximately $81,931.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,382 shares of company stock worth $1,482,171 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Plexus Stock Performance

NASDAQ PLXS opened at $130.97 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.53 billion, a P/E ratio of 22.31 and a beta of 0.80. Plexus Corp. has a 12-month low of $103.43 and a 12-month high of $172.89. The firm has a 50-day moving average price of $132.64 and a two-hundred day moving average price of $130.40.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 EPS. Analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of Plexus from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Stifel Nicolaus set a $140.00 price target on shares of Plexus in a research note on Thursday, July 24th. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and upped their price target for the company from $135.00 to $150.00 in a research note on Friday, July 25th. Finally, Needham & Company LLC decreased their price target on shares of Plexus from $162.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.00.

About Plexus

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.