LPL Financial LLC Grows Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

LPL Financial LLC raised its position in Plexus Corp. (NASDAQ:PLXS) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,636 shares of the technology company’s stock after acquiring an additional 365 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Plexus worth $1,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLXS. CWM LLC increased its position in shares of Plexus by 42.4% in the first quarter. CWM LLC now owns 413 shares of the technology company’s stock valued at $40,000 after acquiring an additional 123 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Plexus by 680.8% during the first quarter. Tower Research Capital LLC TRC now owns 773 shares of the technology company’s stock valued at $75,000 after buying an additional 674 shares during the period. UBS Group AG increased its position in shares of Plexus by 294.9% during the third quarter. UBS Group AG now owns 924 shares of the technology company’s stock valued at $81,000 after buying an additional 690 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Plexus during the fourth quarter valued at about $111,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Plexus during the second quarter valued at about $127,000. Hedge funds and other institutional investors own 92.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Plexus in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Needham & Company LLC upped their price objective on shares of Plexus from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 27th.

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $92.31, for a total value of $184,620.00. Following the transaction, the chief executive officer now owns 109,885 shares in the company, valued at $10,143,484.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Todd P. Kelsey sold 720 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $103.00, for a total value of $74,160.00. Following the transaction, the chief executive officer now owns 115,165 shares in the company, valued at $11,861,995. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $92.31, for a total transaction of $184,620.00. Following the completion of the transaction, the chief executive officer now owns 109,885 shares in the company, valued at approximately $10,143,484.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,720 shares of company stock worth $652,540. Corporate insiders own 2.05% of the company’s stock.

Plexus Price Performance

Shares of PLXS opened at $101.61 on Tuesday. The stock has a market cap of $2.79 billion, a PE ratio of 20.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.61 and a current ratio of 1.47. Plexus Corp. has a fifty-two week low of $83.84 and a fifty-two week high of $115.36. The firm’s 50-day simple moving average is $93.77 and its two-hundred day simple moving average is $94.68.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.18. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Plexus had a net margin of 3.30% and a return on equity of 13.56%. The business’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 earnings per share. Analysts anticipate that Plexus Corp. will post 5.84 earnings per share for the current fiscal year.

Plexus Company Profile

Plexus Corp., together with its subsidiaries, 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.