Plexus Corp. (NASDAQ:PLXS) Position Trimmed by Bank of Montreal Can

Bank of Montreal Can cut its holdings in Plexus Corp. (NASDAQ:PLXS) by 9.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,296 shares of the technology company’s stock after selling 355 shares during the period. Bank of Montreal Can’s holdings in Plexus were worth $516,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC acquired a new stake in shares of Plexus during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in Plexus in the fourth quarter worth $45,000. Nomura Asset Management Co. Ltd. lifted its stake in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares during the last quarter. USA Financial Formulas bought a new position in shares of Plexus during the fourth quarter worth about $56,000. Finally, Blue Trust Inc. increased its holdings in shares of Plexus by 12.1% in the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after acquiring an additional 84 shares during the period. Institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

NASDAQ:PLXS opened at $121.02 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $126.81 and its 200 day moving average price is $144.52. Plexus Corp. has a 52-week low of $93.58 and a 52-week high of $172.89. The firm has a market cap of $3.27 billion, a P/E ratio of 28.08 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. As a group, sell-side analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Benchmark restated a “buy” rating and issued a $165.00 price target on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their price target on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Stifel Nicolaus started coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Insider Buying and Selling at Plexus

In other news, CEO Todd P. Kelsey sold 4,337 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total transaction of $616,851.51. Following the transaction, the chief executive officer now directly owns 80,595 shares in the company, valued at $11,463,026.85. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total value of $496,814.22. Following the sale, the chief accounting officer now owns 29,501 shares of the company’s stock, valued at approximately $4,281,775.14. This represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,958 shares of company stock valued at $2,551,930. 1.76% of the stock is currently owned by corporate insiders.

Plexus Company 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.