Plexus Corp. (NASDAQ:PLXS) Holdings Raised by State Street Corp

State Street Corp grew its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 0.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,050,763 shares of the technology company’s stock after purchasing an additional 740 shares during the period. State Street Corp’s holdings in Plexus were worth $143,650,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its stake in Plexus by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock worth $1,424,000 after acquiring an additional 100 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Plexus by 4.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,453 shares of the technology company’s stock worth $335,000 after acquiring an additional 104 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Plexus by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock worth $766,000 after acquiring an additional 137 shares in the last quarter. Farrow Financial Inc. lifted its stake in Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after acquiring an additional 155 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock worth $797,000 after acquiring an additional 170 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michael J. Running sold 539 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the sale, the insider now owns 1,030 shares in the company, valued at $160,546.10. This represents a 34.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $5,093,223.37. The trade was a 8.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,591 shares of company stock valued at $5,143,375. Insiders own 2.39% of the company’s stock.

Wall Street Analyst Weigh In

PLXS has been the subject of several research analyst reports. Benchmark increased their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC upped their target price on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus upped their target price on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.25.

Plexus Stock Performance

Shares of PLXS stock opened at $166.11 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm has a market cap of $4.50 billion, a P/E ratio of 41.42 and a beta of 0.90. The stock’s 50-day moving average is $152.87 and its two-hundred day moving average is $129.89. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $170.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 EPS. Analysts predict that Plexus Corp. will post 6.14 earnings per share for the current fiscal year.

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.