Swiss National Bank Sells 1,000 Shares of Plexus Corp. (NASDAQ:PLXS)

Swiss National Bank reduced its position in shares of Plexus Corp. (NASDAQ:PLXS) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,400 shares of the technology company’s stock after selling 1,000 shares during the quarter. Swiss National Bank’s holdings in Plexus were worth $7,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Plexus by 0.7% during the second 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 last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Plexus by 1.9% in the second 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 during the period. QRG Capital Management Inc. lifted 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 worth $383,000 after acquiring an additional 152 shares during the period. Farrow Financial Inc. lifted its stake in shares of Plexus by 0.7% in the third quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after acquiring an additional 155 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Plexus by 2.2% in the second 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 during the period. 94.45% of the stock is currently owned by institutional investors.

Insider Transactions at Plexus

In other news, COO Oliver K. Mihm sold 5,691 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at $3,271,870.10. This represents a 22.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the sale, the insider now owns 8,605 shares of the company’s stock, valued at $1,097,137.50. This trade represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,091 shares of company stock valued at $5,334,885 over the last ninety days. 2.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

PLXS has been the topic of a number of recent analyst reports. Benchmark lifted their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC boosted their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, KeyCorp started coverage on Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Plexus Price Performance

Shares of PLXS opened at $161.39 on Tuesday. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $169.41. 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 business’s 50 day moving average price is $143.00 and its two-hundred day moving average price is $124.30. The firm has a market cap of $4.37 billion, a PE ratio of 40.25 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Plexus Corp. will post 6.14 EPS for the current year.

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.