Plexus Corp. (NASDAQ:PLXS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 332,675 shares of the technology company's stock after selling 46,596 shares during the quarter. Bank of New York Mellon Corp owned about 1.23% of Plexus worth $52,057,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in Plexus during the third quarter valued at approximately $208,000. Farther Finance Advisors LLC raised its position in Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock valued at $63,000 after acquiring an additional 219 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Plexus by 6.5% during the third quarter. Harbor Capital Advisors Inc. now owns 7,744 shares of the technology company's stock valued at $1,059,000 after acquiring an additional 476 shares in the last quarter. QRG Capital Management Inc. raised its position in Plexus by 13.9% during the third quarter. QRG Capital Management Inc. now owns 4,226 shares of the technology company's stock valued at $578,000 after acquiring an additional 516 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Plexus by 9.5% in the third quarter. Crossmark Global Holdings Inc. now owns 3,977 shares of the technology company's stock valued at $544,000 after buying an additional 344 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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Plexus Trading Up 0.3 %

NASDAQ PLXS traded up $0.43 on Friday, reaching $124.76. 129,668 shares of the company were exchanged, compared to its average volume of 147,045. The business's fifty day moving average price is $146.94 and its 200 day moving average price is $145.69. The stock has a market capitalization of $3.37 billion, a P/E ratio of 28.95 and a beta of 0.90. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. Analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price objective on Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Benchmark restated a "buy" rating and issued a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus began coverage on Plexus in a research note on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price target on the stock. Finally, StockNews.com raised Plexus from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Plexus presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.00.

Insider Activity

In other news, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the transaction, the chief executive officer now owns 74,271 shares of the company's stock, valued at $11,615,241.69. This represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 3,361 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $144.57, for a total value of $485,899.77. Following the completion of the transaction, the chief financial officer now directly owns 20,745 shares in the company, valued at approximately $2,999,104.65. This trade represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,458 shares of company stock valued at $2,786,515 in the last quarter. Insiders own 1.76% of the company's stock.

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.