Price T Rowe Associates Inc. MD Raises Stock Position in Plexus Corp. (NASDAQ:PLXS)

Price T Rowe Associates Inc. MD boosted its position in Plexus Corp. (NASDAQ:PLXS) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,639 shares of the technology company’s stock after purchasing an additional 1,515 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Plexus were worth $9,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PLXS. TD Private Client Wealth LLC bought a new position in shares of Plexus in the 4th quarter worth $28,000. R Squared Ltd bought a new position in Plexus in the fourth quarter valued at $45,000. Nomura Asset Management Co. Ltd. raised its position in Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas bought a new stake in Plexus during the fourth quarter worth about $56,000. Finally, Blue Trust Inc. increased its position in shares of Plexus by 12.1% during the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock valued at $121,000 after purchasing an additional 84 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Plexus Stock Performance

Shares of PLXS stock opened at $127.82 on Friday. The company has a market capitalization of $3.46 billion, a P/E ratio of 29.66 and a beta of 0.80. Plexus Corp. has a fifty-two week low of $100.96 and a fifty-two week high of $172.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The stock has a 50 day moving average price of $124.50 and a two-hundred day moving average price of $143.80.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating 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 net margin of 3.03% and a return on equity of 10.36%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 EPS. Analysts expect that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLXS shares. Stifel Nicolaus set a $145.00 target price on Plexus in a research note on Thursday, April 24th. Benchmark lowered their price objective on shares of Plexus from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 target price (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.67.

Insider Buying and Selling

In related news, insider Michael J. Running sold 1,250 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $138.62, for a total transaction of $173,275.00. Following the transaction, the insider now owns 1,276 shares in the company, valued at $176,879.12. The trade was a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank Zycinski sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $140.84, for a total transaction of $169,008.00. Following the completion of the sale, the insider now owns 723 shares of the company’s stock, valued at $101,827.32. This trade represents a 62.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,174 shares of company stock valued at $1,569,216 over the last ninety days. 1.76% of the stock is owned by insiders.

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.