Plexus Corp. (NASDAQ:PLXS) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Plexus Corp. (NASDAQ:PLXS) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,287 shares of the technology company’s stock after purchasing an additional 284 shares during the period. PNC Financial Services Group Inc.’s holdings in Plexus were worth $293,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Xponance Inc. lifted its position in shares of Plexus by 4.8% in the first quarter. Xponance Inc. now owns 2,315 shares of the technology company’s stock valued at $297,000 after acquiring an additional 106 shares in the last quarter. Aquatic Capital Management LLC lifted its position in shares of Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock valued at $37,000 after acquiring an additional 134 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Plexus by 1.1% in the fourth quarter. Squarepoint Ops LLC now owns 13,846 shares of the technology company’s stock valued at $2,167,000 after acquiring an additional 148 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Plexus by 1.6% in the first quarter. Nisa Investment Advisors LLC now owns 12,773 shares of the technology company’s stock valued at $1,637,000 after acquiring an additional 205 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Plexus by 49.2% in the first quarter. Blue Trust Inc. now owns 846 shares of the technology company’s stock valued at $108,000 after acquiring an additional 279 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Plexus news, CFO Patrick John Jermain sold 2,178 shares of Plexus stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $130.42, for a total value of $284,054.76. Following the sale, the chief financial officer owned 23,459 shares in the company, valued at $3,059,522.78. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Friday, August 1st. The shares were sold at an average price of $125.63, for a total value of $188,445.00. Following the completion of the sale, the chief executive officer owned 72,214 shares in the company, valued at $9,072,244.82. This represents a 2.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,382 shares of company stock valued at $1,482,171. 1.76% of the stock is currently owned by company insiders.

Plexus Stock Performance

Shares of Plexus stock opened at $130.97 on Friday. Plexus Corp. has a one year low of $103.43 and a one year high of $172.89. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 22.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.58. The business’s 50 day moving average price is $132.64 and its 200 day moving average price is $130.40.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. Plexus had a return on equity of 12.33% and a net margin of 4.04%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business posted $1.45 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analysts Forecast Growth

PLXS has been the topic of several research reports. Stifel Nicolaus set a $140.00 target price on Plexus in a research report on Thursday, July 24th. Needham & Company LLC decreased their target price on Plexus from $162.00 to $158.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Wall Street Zen downgraded Plexus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and raised their target price for the company from $135.00 to $150.00 in a research report on Friday, July 25th. Finally, Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $152.00.

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.