Plexus Corp. (NASDAQ:PLXS) Shares Purchased by State Street Corp

State Street Corp increased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 0.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,050,763 shares of the technology company’s stock after acquiring an additional 740 shares during the period. State Street Corp owned approximately 3.86% of Plexus worth $143,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in Plexus by 0.7% during 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 position in Plexus by 4.4% during 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 position in Plexus by 1.9% during 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. raised its position in shares of Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 155 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after purchasing an additional 170 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $166.11 on Friday. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $170.07. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 41.42 and a beta of 0.90. The business has a 50 day simple moving average of $152.87 and a 200-day simple moving average of $129.89.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction on 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 approximately $5,093,223.37. This represents a 8.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the transaction, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock worth $5,143,375 in the last three months. 2.39% of the stock is owned by 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.