Assenagon Asset Management S.A. Decreases Stock Position in Plexus Corp. (NASDAQ:PLXS)

Assenagon Asset Management S.A. trimmed its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,714 shares of the technology company's stock after selling 2,861 shares during the period. Assenagon Asset Management S.A. owned approximately 0.29% of Plexus worth $12,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLXS. Disciplined Growth Investors Inc. MN grew its position in shares of Plexus by 0.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company's stock valued at $217,611,000 after purchasing an additional 7,245 shares in the last quarter. GSA Capital Partners LLP bought a new position in Plexus in the 3rd quarter worth about $899,000. Victory Capital Management Inc. boosted its stake in Plexus by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company's stock worth $27,367,000 after purchasing an additional 7,483 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in Plexus by 62.6% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company's stock valued at $1,825,000 after buying an additional 5,138 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock valued at $6,669,000 after buying an additional 28,406 shares during the period. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the sale, the chief accounting officer now directly owns 35,323 shares of the company's stock, valued at $5,093,223.37. The trade was a 8.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Oliver K. Mihm sold 5,691 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total value of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares of the company's stock, valued at approximately $3,271,870.10. This trade represents a 22.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,091 shares of company stock valued at $5,377,960. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PLXS shares. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a "sector weight" rating for the company. Needham & Company LLC raised their price target on shares of Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a report on Friday, October 25th. Benchmark upped their price target on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Stifel Nicolaus lifted their price objective on Plexus from $136.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded Plexus from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plexus has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.

Plexus Trading Up 1.5 %

NASDAQ:PLXS traded up $2.42 during midday trading on Friday, reaching $167.36. 159,259 shares of the stock traded hands, compared to its average volume of 189,138. The stock has a market capitalization of $4.53 billion, a P/E ratio of 41.74 and a beta of 0.91. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $170.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. The company has a fifty day moving average of $161.73 and a 200 day moving average of $139.87.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share. On average, research analysts predict that Plexus Corp. will post 6.13 EPS for the current year.

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.