LPL Financial LLC Acquires 1,751 Shares of Plexus Corp. (NASDAQ:PLXS)

LPL Financial LLC lifted its stake in Plexus Corp. (NASDAQ:PLXS – Get Rating) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,638 shares of the technology company’s stock after acquiring an additional 1,751 shares during the period. LPL Financial LLC owned 0.05% of Plexus worth $1,529,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PLXS. Credit Agricole S A acquired a new stake in shares of Plexus in the 3rd quarter worth $25,000. Ronald Blue Trust Inc. raised its stake in shares of Plexus by 86.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 815 shares of the technology company’s stock worth $71,000 after buying an additional 379 shares during the period. UBS Group AG grew its position in shares of Plexus by 294.9% in the third quarter. UBS Group AG now owns 924 shares of the technology company’s stock valued at $81,000 after purchasing an additional 690 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of Plexus by 553.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 837 shares of the technology company’s stock worth $86,000 after acquiring an additional 709 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Plexus by 253.0% during the third quarter. Quadrant Capital Group LLC now owns 1,398 shares of the technology company’s stock worth $122,000 after buying an additional 1,002 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLXS. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a report on Friday, January 27th. JPMorgan Chase & Co. lowered their price objective on shares of Plexus from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, January 27th. Needham & Company LLC cut their target price on Plexus from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 27th. Finally, StockNews.com began coverage on Plexus in a research report on Thursday, May 18th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Plexus Stock Up 3.7 %

Shares of NASDAQ PLXS opened at $90.24 on Friday. The stock has a market cap of $2.49 billion, a P/E ratio of 14.92 and a beta of 1.11. The business’s fifty day simple moving average is $91.05 and its 200-day simple moving average is $99.14. Plexus Corp. has a 12-month low of $74.53 and a 12-month high of $115.36. The company has a current ratio of 1.45, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.

Plexus (NASDAQ:PLXS – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.16 by $0.29. Plexus had a net margin of 4.00% and a return on equity of 15.24%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The firm’s revenue was up 20.5% on a year-over-year basis. As a group, equities analysts predict that Plexus Corp. will post 5.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Plexus news, EVP Ronnie Darroch sold 4,424 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $89.12, for a total value of $394,266.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.05% of the stock is owned by company insiders.

About Plexus

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Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense market sectors.