Bank of New York Mellon Corp Boosts Position in Plexus Corp. (NASDAQ:PLXS)

Bank of New York Mellon Corp grew its position in shares of Plexus Corp. (NASDAQ:PLXS) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,308 shares of the technology company’s stock after purchasing an additional 31,099 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.65% of Plexus worth $46,772,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PLXS. Parallel Advisors LLC increased its holdings in shares of Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after purchasing an additional 146 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after purchasing an additional 351 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Plexus by 86,050.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,723 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,721 shares in the last quarter. CHICAGO TRUST Co NA acquired a new stake in Plexus in the 2nd quarter valued at $206,000. Finally, Reynders McVeigh Capital Management LLC acquired a new stake in Plexus in the 4th quarter valued at $214,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of research analyst reports. Benchmark lifted their price target on shares of Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $124.00.

Insider Transactions at Plexus

In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction on 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction on 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total value of $190,440.00. Following the transaction, the chief executive officer now owns 96,682 shares in the company, valued at approximately $11,118,430. The disclosure for this sale can be found here. Insiders have sold a total of 21,269 shares of company stock worth $2,667,824 in the last quarter. Company insiders own 2.39% of the company’s stock.

Plexus Trading Up 0.3 %

Shares of PLXS opened at $128.11 on Monday. Plexus Corp. has a 52-week low of $87.21 and a 52-week high of $132.46. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $116.68 and its two-hundred day moving average is $105.78. The stock has a market cap of $3.49 billion, a PE ratio of 35.39 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $960.70 million for the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter in the previous year, the company posted $1.32 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts forecast that Plexus Corp. will post 3.74 earnings per share 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.