Oppenheimer Asset Management Inc. Increases Holdings in Plexus Corp. (NASDAQ:PLXS)

Oppenheimer Asset Management Inc. lifted its holdings in Plexus Corp. (NASDAQ:PLXS) by 10.4% in the second quarter, Holdings Channel reports. The fund owned 12,811 shares of the technology company’s stock after purchasing an additional 1,212 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Plexus were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in shares of Plexus by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock valued at $1,424,000 after purchasing an additional 100 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in 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 buying an additional 137 shares during the last quarter. Parallel Advisors LLC boosted its stake in Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after buying an additional 146 shares during the period. QRG Capital Management Inc. increased its position in Plexus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after acquiring an additional 152 shares during the last quarter. Finally, Farrow Financial Inc. raised its stake in shares of Plexus by 0.8% in the second quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company’s stock valued at $2,222,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Trading Up 0.1 %

NASDAQ PLXS opened at $128.00 on Thursday. The stock has a market cap of $3.51 billion, a PE ratio of 35.36 and a beta of 0.89. Plexus Corp. has a 12 month low of $87.21 and a 12 month high of $132.46. The company’s 50-day moving average price is $122.08 and its 200-day moving average price is $108.37. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Plexus news, insider Steven J. Frisch sold 6,565 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the sale, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the transaction, the chief executive officer now directly owns 96,682 shares in the company, valued at $11,118,430. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven J. Frisch sold 6,565 shares of Plexus stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total transaction of $841,042.15. Following the transaction, the insider now directly owns 36,118 shares in the company, valued at $4,627,076.98. The disclosure for this sale can be found here. Insiders have sold 21,769 shares of company stock worth $2,731,834 in the last ninety days. 2.39% of the stock is owned by company 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.