Mercer Global Advisors Inc. ADV Boosts Stake in Plexus Corp. (NASDAQ:PLXS)

Mercer Global Advisors Inc. ADV raised its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,788 shares of the technology company’s stock after buying an additional 176 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Plexus were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. UniSuper Management Pty Ltd purchased a new position in shares of Plexus during the first quarter valued at approximately $515,000. Norges Bank acquired a new stake in shares of Plexus during the fourth quarter worth $19,533,000. Quantbot Technologies LP purchased a new stake in shares of Plexus in the first quarter valued at $533,000. Fiduciary Management Inc. WI increased its stake in Plexus by 3.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after purchasing an additional 44,398 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Plexus by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after buying an additional 74,988 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of NASDAQ:PLXS opened at $136.71 on Tuesday. The firm has a market capitalization of $3.75 billion, a PE ratio of 37.77 and a beta of 0.89. Plexus Corp. has a 12 month low of $87.21 and a 12 month high of $138.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64. The business has a 50-day moving average of $125.01 and a two-hundred day moving average of $110.67.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PLXS shares. Needham & Company LLC upped their price objective on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Benchmark upped their price target on shares of Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $124.00.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the completion of the sale, the chief executive officer now directly owns 93,682 shares in the company, valued at approximately $12,028,768.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the sale, the chief executive officer now directly owns 93,682 shares of the company’s stock, valued at $12,028,768.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,769 shares of company stock worth $2,731,834. 2.39% of the stock is currently owned by corporate insiders.

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.