Mercer Global Advisors Inc. ADV boosted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,308 shares of the technology company’s stock after acquiring an additional 356 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Plexus were worth $668,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in Plexus by 3.7% during the first quarter. BlackRock Inc. now owns 4,510,343 shares of the technology company’s stock worth $414,229,000 after acquiring an additional 160,457 shares during the last quarter. Earnest Partners LLC increased its stake in Plexus by 9.2% during the first quarter. Earnest Partners LLC now owns 1,448,995 shares of the technology company’s stock worth $133,076,000 after acquiring an additional 122,213 shares during the last quarter. Fiduciary Management Inc. WI increased its stake in Plexus by 17.6% during the first quarter. Fiduciary Management Inc. WI now owns 820,729 shares of the technology company’s stock worth $75,376,000 after acquiring an additional 122,869 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Plexus by 8.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 745,242 shares of the technology company’s stock worth $68,443,000 after acquiring an additional 59,709 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Plexus by 5.3% during the first quarter. Geode Capital Management LLC now owns 478,406 shares of the technology company’s stock valued at $43,936,000 after buying an additional 24,259 shares during the period. 93.46% of the stock is currently owned by institutional investors.
PLXS has been the subject of several recent analyst reports. Fox-Davies Capital upgraded Plexus from an “equal weight” rating to an “overweight” rating and set a $110.00 target price for the company in a research report on Monday, August 23rd. Loop Capital boosted their target price on Plexus from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, June 11th. Raymond James set a $85.73 target price on Plexus and gave the company a “hold” rating in a research report on Monday, July 19th. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, June 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $108.00 target price on shares of Plexus in a research report on Friday, September 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $102.79.
Shares of NASDAQ PLXS opened at $91.39 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.81. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.80 and a beta of 1.19. The stock has a 50 day moving average price of $88.76 and a 200 day moving average price of $91.26. Plexus Corp. has a 52-week low of $64.35 and a 52-week high of $101.17.
Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Tuesday, July 20th. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The company had revenue of $814.39 million during the quarter, compared to the consensus estimate of $797.24 million. Plexus had a net margin of 4.17% and a return on equity of 14.55%. Plexus’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Analysts forecast that Plexus Corp. will post 4.91 earnings per share for the current year.
Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences; industrial and commercial; communications; and aerospace and defense market sectors.
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