Plexus Corp. (NASDAQ:PLXS) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its stake in Plexus Corp. (NASDAQ:PLXS) by 10.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,416 shares of the technology company’s stock after selling 387 shares during the period. Inspire Investing LLC’s holdings in Plexus were worth $352,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares during the period. Fiduciary Management Inc. WI boosted its stake in Plexus by 3.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after purchasing an additional 44,398 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Plexus by 8.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after purchasing an additional 87,574 shares during the period. Bank of New York Mellon Corp boosted its stake in Plexus by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock worth $46,772,000 after purchasing an additional 31,099 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in Plexus by 28.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock worth $36,434,000 after purchasing an additional 85,986 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Down 1.0 %

PLXS stock opened at $131.03 on Monday. Plexus Corp. has a one year low of $87.21 and a one year high of $132.68. The stock has a market capitalization of $3.59 billion, a PE ratio of 36.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. The company has a fifty day moving average of $122.97 and a 200-day moving average of $109.00.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. The business had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS. As a group, analysts expect that Plexus Corp. will post 3.74 EPS for the current year.

Insider Activity

In other news, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares in the company, valued at approximately $11,118,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Plexus news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the transaction, the insider now directly owns 8,605 shares in the company, valued at approximately $1,097,137.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,656 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the transaction, the chief executive officer now owns 96,682 shares of the company’s stock, valued at $11,118,430. The disclosure for this sale can be found here. Insiders sold 21,769 shares of company stock worth $2,731,834 in the last 90 days. 2.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on PLXS shares. Needham & Company LLC increased their price target on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Benchmark raised their target price on shares of Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $124.00.

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.