Fmr LLC Buys 11,989 Shares of Plexus Corp. (NASDAQ:PLXS)

Fmr LLC increased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 614.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,941 shares of the technology company’s stock after acquiring an additional 11,989 shares during the quarter. Fmr LLC’s holdings in Plexus were worth $1,906,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PLXS. American Century Companies Inc. grew its stake in shares of Plexus by 204.3% during the second quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock valued at $16,306,000 after purchasing an additional 106,103 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after buying an additional 87,574 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Plexus by 158.0% in the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock valued at $11,289,000 after buying an additional 50,564 shares during the period. Algert Global LLC lifted its holdings in Plexus by 1,546.5% in the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after buying an additional 43,009 shares during the period. Finally, Speece Thorson Capital Group Inc. lifted its holdings in Plexus by 197.1% in the second quarter. Speece Thorson Capital Group Inc. now owns 50,498 shares of the technology company’s stock valued at $5,210,000 after buying an additional 33,501 shares during the period. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLXS. KeyCorp began coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Stifel Nicolaus increased their price objective on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Needham & Company LLC increased their price objective on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Benchmark increased their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.25.

Insider Buying and Selling

In related news, insider Michael J. Running sold 539 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the sale, the insider now directly owns 1,030 shares in the company, valued at $160,546.10. This trade represents a 34.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 2,643 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $166.32, for a total transaction of $439,583.76. Following the sale, the chief financial officer now owns 21,959 shares in the company, valued at approximately $3,652,220.88. The trade was a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,591 shares of company stock worth $5,143,375 over the last ninety days. Company insiders own 2.39% of the company’s stock.

Plexus Trading Down 1.4 %

PLXS opened at $166.11 on Monday. The firm’s fifty day moving average is $152.87 and its two-hundred day moving average is $130.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. The firm has a market cap of $4.50 billion, a PE ratio of 41.42 and a beta of 0.90. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $170.07.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $1.44 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Plexus Corp. will post 6.14 EPS for the current year.

Plexus 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.