Massachusetts Financial Services Co. MA Sells 109,690 Shares of Plexus Corp. (NASDAQ:PLXS)

Massachusetts Financial Services Co. MA trimmed its stake in Plexus Corp. (NASDAQ:PLXS) by 25.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 326,801 shares of the technology company’s stock after selling 109,690 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Plexus were worth $44,677,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Comerica Bank grew its position in Plexus by 22.5% during the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock worth $7,758,000 after acquiring an additional 15,046 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Plexus by 269.9% in the second quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock valued at $750,000 after buying an additional 5,303 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Plexus by 68.4% in the first quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock worth $6,281,000 after acquiring an additional 26,904 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Plexus by 0.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock worth $217,611,000 after buying an additional 7,245 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. The trade was a 8.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the sale, the chief operating officer now owns 19,585 shares in the company, valued at $3,271,870.10. This represents a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,091 shares of company stock valued at $5,334,885 in the last ninety days. 2.39% of the stock is currently owned by corporate insiders.

Plexus Stock Up 1.5 %

Plexus stock opened at $162.01 on Monday. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $169.41. The firm has a market capitalization of $4.39 billion, a PE ratio of 40.40 and a beta of 0.87. The company’s 50-day moving average is $143.00 and its 200-day moving average is $124.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC upped their target price on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Benchmark upped their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

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.