Vident Investment Advisory LLC Trims Stake in Plexus Corp. (NASDAQ:PLXS)

Vident Investment Advisory LLC lessened its position in Plexus Corp. (NASDAQ:PLXS) by 13.9% in the second quarter, HoldingsChannel reports. The firm owned 19,606 shares of the technology company’s stock after selling 3,154 shares during the quarter. Vident Investment Advisory LLC’s holdings in Plexus were worth $1,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in Plexus by 1,231.6% in the first quarter. Meeder Asset Management Inc. now owns 759 shares of the technology company’s stock worth $41,000 after purchasing an additional 702 shares during the period. Advisor Group Holdings Inc. purchased a new stake in shares of Plexus in the 1st quarter worth about $68,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Plexus by 201.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,734 shares of the technology company’s stock worth $95,000 after acquiring an additional 1,159 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Plexus by 44.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,616 shares of the technology company’s stock valued at $143,000 after acquiring an additional 805 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in Plexus during the first quarter worth about $186,000. Institutional investors own 95.26% of the company’s stock.

Shares of NASDAQ:PLXS opened at $74.29 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.72. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 19.86 and a beta of 1.05. The business has a 50-day simple moving average of $68.27 and a two-hundred day simple moving average of $65.17. Plexus Corp. has a fifty-two week low of $35.16 and a fifty-two week high of $86.53.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.45. Plexus had a net margin of 3.55% and a return on equity of 12.41%. The firm had revenue of $857.39 million during the quarter, compared to analysts’ expectations of $801.94 million. As a group, research analysts predict that Plexus Corp. will post 3.93 earnings per share for the current year.

PLXS has been the topic of a number of analyst reports. BidaskClub raised Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, July 11th. TheStreet raised Plexus from a “c+” rating to a “b” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on Plexus from $67.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Stifel Nicolaus upped their price target on shares of Plexus from $60.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Finally, ValuEngine lowered shares of Plexus from a “hold” rating to a “sell” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Plexus presently has an average rating of “Buy” and an average price target of $80.67.

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,061 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $73.22, for a total value of $224,126.42. Following the transaction, the chief accounting officer now owns 32,657 shares in the company, valued at approximately $2,391,145.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 605 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $73.00, for a total transaction of $44,165.00. Following the sale, the chief accounting officer now owns 32,657 shares of the company’s stock, valued at $2,383,961. The disclosure for this sale can be found here. Insiders have sold a total of 60,348 shares of company stock worth $4,192,338 over the last three months. Insiders own 3.20% of the company’s stock.

Plexus Company Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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