Victory Capital Management Inc. Sells 360,216 Shares of Plexus Corp. (NASDAQ:PLXS)

Victory Capital Management Inc. lowered its position in shares of Plexus Corp. (NASDAQ:PLXS) by 65.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,036 shares of the technology company’s stock after selling 360,216 shares during the quarter. Victory Capital Management Inc.’s holdings in Plexus were worth $20,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Plexus by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock worth $321,147,000 after acquiring an additional 47,762 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Plexus by 0.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 484,095 shares of the technology company’s stock worth $45,011,000 after purchasing an additional 3,459 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Plexus by 1.1% in the 4th quarter. Boston Trust Walden Corp now owns 402,382 shares of the technology company’s stock worth $43,510,000 after buying an additional 4,500 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Plexus by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 380,440 shares of the technology company’s stock valued at $35,373,000 after buying an additional 10,221 shares during the period. Finally, Invesco Ltd. raised its position in Plexus by 11.8% in the third quarter. Invesco Ltd. now owns 198,239 shares of the technology company’s stock worth $18,432,000 after acquiring an additional 20,861 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLXS. Stifel Nicolaus increased their target price on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Needham & Company LLC raised their target price on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Finally, Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of Plexus in a report on Wednesday, January 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Plexus has a consensus rating of “Hold” and a consensus target price of $107.75.

Insider Activity

In related news, insider Michael J. Running sold 633 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.99, for a total transaction of $62,027.67. Following the sale, the insider now owns 1,569 shares of the company’s stock, valued at approximately $153,746.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Michael J. Running sold 633 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $97.99, for a total transaction of $62,027.67. Following the completion of the transaction, the insider now directly owns 1,569 shares in the company, valued at $153,746.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Patrick John Jermain sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $107.00, for a total value of $214,000.00. Following the completion of the sale, the chief financial officer now directly owns 39,182 shares in the company, valued at approximately $4,192,474. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,228 shares of company stock worth $3,530,955. 2.39% of the stock is owned by company insiders.

Plexus Trading Up 0.4 %

Shares of PLXS stock opened at $107.43 on Friday. Plexus Corp. has a 1 year low of $85.35 and a 1 year high of $114.06. The company’s fifty day simple moving average is $96.31 and its two-hundred day simple moving average is $99.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 29.68 and a beta of 1.00.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. As a group, analysts anticipate that Plexus Corp. will post 3.61 earnings per share for the current 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.