Assenagon Asset Management S.A. Grows Stake in Plexus Corp. (NASDAQ:PLXS)

Assenagon Asset Management S.A. grew its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 158.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,575 shares of the technology company’s stock after buying an additional 50,564 shares during the period. Assenagon Asset Management S.A.’s holdings in Plexus were worth $11,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after purchasing an additional 74,988 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Plexus by 0.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after buying an additional 7,245 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after buying an additional 87,574 shares in the last quarter. Earnest Partners LLC lifted its holdings in Plexus by 3.0% in the second quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after buying an additional 23,074 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Plexus by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock worth $46,772,000 after buying an additional 31,099 shares during the period. Institutional investors own 94.45% of the company’s stock.

Plexus Stock Down 2.6 %

PLXS stock opened at $141.19 on Monday. The business has a 50 day moving average of $130.82 and a 200 day moving average of $116.40. The firm has a market cap of $3.84 billion, a PE ratio of 35.56 and a beta of 0.89. Plexus Corp. has a twelve month low of $88.57 and a twelve month high of $153.60. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. On average, research analysts forecast that Plexus Corp. will post 3.74 EPS for the current fiscal year.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $123.75, for a total value of $123,750.00. Following the completion of the transaction, the chief executive officer now directly owns 87,026 shares in the company, valued at $10,769,467.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the sale, the director now directly owns 9,586 shares of the company’s stock, valued at $1,227,199.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $123.75, for a total value of $123,750.00. Following the completion of the transaction, the chief executive officer now directly owns 87,026 shares of the company’s stock, valued at approximately $10,769,467.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,113 shares of company stock worth $2,541,394. Corporate insiders own 2.39% of the company’s stock.

Analyst Ratings Changes

PLXS has been the subject of several research reports. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Plexus in a research report on Monday, October 21st. KeyCorp initiated coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Finally, Needham & Company LLC boosted their target price on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $129.75.

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.