Wells Fargo & Company MN Increases Holdings in Plexus Corp. (NASDAQ:PLXS)

Wells Fargo & Company MN boosted its position in Plexus Corp. (NASDAQ:PLXS) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 55,493 shares of the technology company’s stock after purchasing an additional 926 shares during the period. Wells Fargo & Company MN’s holdings in Plexus were worth $8,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of Plexus in the 4th quarter worth approximately $107,489,000. Geode Capital Management LLC lifted its stake in Plexus by 0.8% in the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock worth $89,392,000 after purchasing an additional 4,926 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Plexus by 72.2% during the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock valued at $85,128,000 after buying an additional 228,027 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Plexus by 146.9% in the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock valued at $40,501,000 after acquiring an additional 154,003 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Plexus by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 138,367 shares of the technology company’s stock valued at $21,652,000 after acquiring an additional 4,445 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the transaction, the chief accounting officer now owns 29,501 shares of the company’s stock, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 3,361 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $144.57, for a total value of $485,899.77. Following the completion of the sale, the chief financial officer now directly owns 20,745 shares in the company, valued at approximately $2,999,104.65. This represents a 13.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,958 shares of company stock worth $2,551,930 in the last three months. 1.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLXS has been the subject of several recent research reports. Needham & Company LLC boosted their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Stifel Nicolaus initiated coverage on shares of Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $165.00 price target on shares of Plexus in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Plexus has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $122.66 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. Plexus Corp. has a 1 year low of $92.72 and a 1 year high of $172.89. The company’s 50-day moving average is $127.54 and its 200 day moving average is $144.57. The stock has a market capitalization of $3.32 billion, a P/E ratio of 28.46 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS 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, sell-side analysts expect that Plexus Corp. will post 5.9 earnings per share for the current year.

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.