Plexus Corp. (NASDAQ:PLXS) Shares Bought by MQS Management LLC

MQS Management LLC lifted its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 50.4% during the second quarter, Holdings Channel.com reports. The fund owned 6,001 shares of the technology company’s stock after acquiring an additional 2,012 shares during the period. MQS Management LLC’s holdings in Plexus were worth $619,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Plexus during the 2nd quarter worth approximately $297,000. Mercer Global Advisors Inc. ADV grew its stake in Plexus by 6.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,788 shares of the technology company’s stock valued at $288,000 after acquiring an additional 176 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Plexus by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 58,607 shares of the technology company’s stock valued at $6,047,000 after purchasing an additional 2,076 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Plexus by 10.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,811 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 1,212 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its position in Plexus by 0.7% during the second quarter. GHP Investment Advisors Inc. now owns 87,984 shares of the technology company’s stock worth $9,078,000 after purchasing an additional 644 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 0.1 %

Plexus stock opened at $128.00 on Thursday. The stock’s 50 day moving average price is $122.08 and its 200 day moving average price is $108.37. The company has a market cap of $3.51 billion, a PE ratio of 35.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64. Plexus Corp. has a 1-year low of $87.21 and a 1-year high of $132.46.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter last year, the business posted $1.32 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, sell-side analysts predict that Plexus Corp. will post 3.74 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

PLXS has been the topic of several research analyst reports. Needham & Company LLC boosted their price objective on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a report on Friday, July 26th. Benchmark lifted their target price on Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Plexus has an average rating of “Hold” and an average target price of $124.00.

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.