Victory Capital Management Inc. Raises Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Victory Capital Management Inc. boosted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,186 shares of the technology company’s stock after buying an additional 7,483 shares during the quarter. Victory Capital Management Inc. owned 0.74% of Plexus worth $27,367,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of 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 purchasing an additional 100 shares during the period. SummerHaven Investment Management LLC lifted its stake in Plexus by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock worth $766,000 after purchasing an additional 137 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Plexus by 4.3% in the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after buying an additional 152 shares in the last quarter. Farrow Financial Inc. raised its holdings 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 buying an additional 155 shares during the period. Finally, Arizona State Retirement System lifted its stake in Plexus by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock worth $797,000 after acquiring an additional 170 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Plexus

In other news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the sale, the director now owns 9,586 shares of the company’s stock, valued at $1,227,199.72. The trade was a 4.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the transaction, the insider now owns 8,605 shares in the company, valued at approximately $1,097,137.50. This trade represents a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,552 shares of company stock valued at $5,250,872. Corporate insiders own 2.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PLXS shares. Benchmark lifted 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. Needham & Company LLC upped their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Finally, StockNews.com lowered Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $133.50.

Plexus Trading Down 0.4 %

NASDAQ PLXS opened at $153.13 on Monday. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $169.41. The firm has a 50 day moving average of $139.43 and a two-hundred day moving average of $122.43. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.17 billion, a PE ratio of 38.19 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. Plexus’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 earnings per share. As a group, research analysts expect that Plexus Corp. will post 6.13 EPS for the current fiscal 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.