Bank of America Corp DE Sells 33,401 Shares of Plexus Corp. (NASDAQ:PLXS)

Bank of America Corp DE lessened its holdings in Plexus Corp. (NASDAQ:PLXS) by 21.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 118,921 shares of the technology company’s stock after selling 33,401 shares during the period. Bank of America Corp DE owned about 0.44% of Plexus worth $18,609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in shares of Plexus in the 4th quarter valued at about $107,489,000. Barclays PLC lifted its position in Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after acquiring an additional 28,406 shares during the last quarter. KBC Group NV boosted its stake in Plexus by 59.9% in the fourth quarter. KBC Group NV now owns 1,180 shares of the technology company’s stock valued at $185,000 after acquiring an additional 442 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Plexus in the fourth quarter valued at approximately $783,000. Finally, Franklin Resources Inc. purchased a new position in Plexus in the fourth quarter worth $928,000. 94.45% of the stock is currently owned by institutional investors.

Insider Activity at Plexus

In other Plexus news, CFO Patrick John Jermain sold 4,328 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the transaction, the chief financial officer now directly owns 25,637 shares of the company’s stock, valued at approximately $3,391,518.73. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now owns 1,276 shares in the company, valued at approximately $176,879.12. This represents a 49.49% decrease in their position. The disclosure for this sale can be found here. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on PLXS shares. Stifel Nicolaus set a $145.00 price objective on Plexus in a report on Thursday, April 24th. Needham & Company LLC reiterated a “buy” rating and issued a $162.00 price target (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Plexus in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Plexus presently has a consensus rating of “Moderate Buy” and an average price target of $155.67.

Plexus Trading Down 0.6%

NASDAQ PLXS opened at $132.17 on Wednesday. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The company has a fifty day simple moving average of $125.33 and a two-hundred day simple moving average of $142.84. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.58 billion, a P/E ratio of 30.67 and a beta of 0.80.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.12. The company had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

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.