Dana Investment Advisors Inc. Lowers Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Dana Investment Advisors Inc. reduced its position in Plexus Corp. (NASDAQ:PLXS) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,237 shares of the technology company’s stock after selling 780 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Plexus were worth $3,120,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PLXS. Louisiana State Employees Retirement System raised its holdings in 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 in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Plexus by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock valued at $766,000 after buying an additional 137 shares during the period. Parallel Advisors LLC boosted its stake in shares of Plexus by 72.3% in the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Plexus by 4.3% during 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. Finally, Farrow Financial Inc. raised its position in Plexus by 0.8% in the second quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company’s stock worth $2,222,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PLXS. Needham & Company LLC boosted their target price on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Benchmark increased their target price on shares of Plexus from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plexus has a consensus rating of “Hold” and an average target price of $125.25.

Insider Buying and Selling

In other Plexus news, insider Steven J. Frisch sold 6,565 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the transaction, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Todd P. Kelsey sold 3,000 shares of Plexus stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the completion of the sale, the chief executive officer now owns 93,682 shares of the company’s stock, valued at $12,028,768.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven J. Frisch sold 6,565 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the transaction, the insider now owns 36,118 shares of the company’s stock, valued at $4,627,076.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,769 shares of company stock worth $2,731,834. 2.39% of the stock is owned by corporate insiders.

Plexus Stock Up 0.2 %

Shares of NASDAQ PLXS opened at $135.02 on Thursday. The firm’s 50-day moving average is $125.33 and its two-hundred day moving average is $110.98. The company has a market capitalization of $3.68 billion, a PE ratio of 37.30 and a beta of 0.89. Plexus Corp. has a 12-month low of $87.21 and a 12-month high of $138.20. 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 (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 24th. The technology company reported $1.45 EPS 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 firm had revenue of $960.70 million for the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter in the prior year, the firm earned $1.32 EPS. Plexus’s quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts anticipate that Plexus Corp. will post 3.74 EPS for the current fiscal 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.