Envestnet Asset Management Inc. Cuts Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Envestnet Asset Management Inc. reduced its position in shares of Plexus Corp. (NASDAQ:PLXS) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,015 shares of the technology company’s stock after selling 167 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Plexus worth $7,305,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PLXS. American Century Companies Inc. increased its holdings in Plexus by 72.2% in the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock valued at $85,128,000 after buying an additional 228,027 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Plexus by 6.6% in the fourth quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company’s stock valued at $55,012,000 after purchasing an additional 21,911 shares during the last quarter. Northern Trust Corp grew its position in shares of Plexus by 10.0% in the fourth quarter. Northern Trust Corp now owns 332,100 shares of the technology company’s stock valued at $51,967,000 after purchasing an additional 30,163 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Plexus by 146.9% in the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock valued at $40,501,000 after purchasing an additional 154,003 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Plexus by 19,069.1% in the first quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company’s stock valued at $21,884,000 after purchasing an additional 169,906 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $129.87, for a total value of $194,805.00. Following the transaction, the chief executive officer owned 75,214 shares in the company, valued at approximately $9,768,042.18. This represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.77, for a total transaction of $65,385.00. Following the completion of the transaction, the director owned 9,365 shares in the company, valued at approximately $1,224,661.05. This represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,032 shares of company stock valued at $1,582,222 over the last three months. 1.76% of the stock is owned by insiders.

Plexus Trading Down 1.4%

Plexus stock opened at $133.62 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $133.72 and a two-hundred day moving average price of $134.30. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 26.00 and a beta of 0.80. Plexus Corp. has a 52-week low of $103.43 and a 52-week high of $172.89.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The business had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts expect that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analyst Weigh In

PLXS has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Needham & Company LLC reiterated a “buy” rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Wall Street Zen upgraded shares of Plexus from a “buy” rating to a “strong-buy” rating in a report on Monday, June 30th. Finally, Stifel Nicolaus set a $145.00 price target on shares of Plexus in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

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.