Fmr LLC Purchases 11,989 Shares of Plexus Corp. (NASDAQ:PLXS)

FMR LLC grew its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 614.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,941 shares of the technology company's stock after buying an additional 11,989 shares during the period. FMR LLC owned 0.05% of Plexus worth $1,906,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC increased its stake in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company's stock worth $38,000 after purchasing an additional 367 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock valued at $63,000 after purchasing an additional 219 shares during the period. Innealta Capital LLC acquired a new stake in Plexus in the 2nd quarter valued at about $51,000. Advisors Asset Management Inc. grew its holdings in Plexus by 85.0% during the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company's stock worth $91,000 after purchasing an additional 305 shares during the period. Finally, GAMMA Investing LLC increased its position in Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company's stock worth $104,000 after buying an additional 498 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Plexus Price Performance

Plexus stock traded down $0.71 during mid-day trading on Monday, reaching $165.40. 215,520 shares of the company were exchanged, compared to its average volume of 136,854. The firm has a market cap of $4.48 billion, a PE ratio of 41.73 and a beta of 0.90. 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 fifty day simple moving average of $152.87 and a 200-day simple moving average of $130.15. Plexus Corp. has a 12 month low of $90.18 and a 12 month 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, topping analysts' consensus estimates of $1.55 by $0.30. The company 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%. Plexus's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.44 earnings per share. As a group, equities research analysts expect that Plexus Corp. will post 6.14 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, COO Oliver K. Mihm sold 5,691 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the sale, the chief operating officer now owns 19,585 shares of the company's stock, valued at $3,271,870.10. This trade represents a 22.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the business's stock in a transaction dated 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 owns 35,323 shares in the company, valued at approximately $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,591 shares of company stock valued at $5,143,375. Company insiders own 2.39% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Benchmark lifted 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 research report on Monday, November 18th. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They set a "sector weight" rating for the company. Stifel Nicolaus upped their price objective on Plexus from $136.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC lifted their target price 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 issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.25.

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.