Plexus Corp. (NASDAQ:PLXS) Stake Boosted by Barclays PLC

Barclays PLC grew its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 139.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,786 shares of the technology company's stock after acquiring an additional 28,406 shares during the period. Barclays PLC owned about 0.18% of Plexus worth $6,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PLXS. XTX Topco Ltd acquired a new position in Plexus in the third quarter worth about $286,000. Weiss Asset Management LP bought a new position in Plexus during the 3rd quarter worth approximately $2,580,000. Stifel Financial Corp acquired a new position in shares of Plexus in the 3rd quarter worth approximately $332,000. Quarry LP increased its holdings in shares of Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company's stock valued at $31,000 after acquiring an additional 195 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Plexus in the 3rd quarter valued at approximately $51,000. Institutional investors own 94.45% of the company's stock.

Insider Activity

In related 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 shares were 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 in the company, valued at $5,093,223.37. The trade was a 8.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $165.90, for a total transaction of $497,700.00. Following the sale, the insider now owns 5,605 shares of the company's stock, valued at $929,869.50. The trade was a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,591 shares of company stock worth $5,143,375 over the last three months. Corporate insiders own 2.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PLXS shares. Stifel Nicolaus lifted their price objective on shares of Plexus from $136.00 to $150.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. KeyCorp began coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a "sector weight" rating for the company. Benchmark raised their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, October 28th. StockNews.com raised Plexus from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, Needham & Company LLC raised their price target on Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Three 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.25.

Plexus Stock Performance

PLXS stock traded up $0.19 on Thursday, reaching $159.75. The company's stock had a trading volume of 285,010 shares, compared to its average volume of 138,230. The firm has a fifty day moving average of $154.56 and a two-hundred day moving average of $131.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The company has a market capitalization of $4.33 billion, a P/E ratio of 39.84 and a beta of 0.90. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $170.07.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. As a group, analysts predict that Plexus Corp. will post 6.14 EPS for the current fiscal year.

Plexus Company Profile

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.