Hotchkis & Wiley Capital Management LLC Has $25.78 Million Position in Plexus Corp. (NASDAQ:PLXS)

Hotchkis & Wiley Capital Management LLC reduced its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 39.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 188,588 shares of the technology company's stock after selling 123,540 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.69% of Plexus worth $25,782,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLXS. Price T Rowe Associates Inc. MD lifted its holdings in Plexus by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,513 shares of the technology company's stock valued at $2,135,000 after purchasing an additional 1,022 shares during the last quarter. Tidal Investments LLC increased its position in Plexus by 40.0% in the 1st quarter. Tidal Investments LLC now owns 3,364 shares of the technology company's stock valued at $319,000 after acquiring an additional 961 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Plexus by 269.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company's stock valued at $750,000 after acquiring an additional 5,303 shares in the last quarter. CHICAGO TRUST Co NA acquired a new stake in Plexus in the 2nd quarter valued at about $206,000. Finally, QRG Capital Management Inc. increased its position in Plexus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company's stock valued at $383,000 after acquiring an additional 152 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Plexus Trading Up 0.2 %

NASDAQ PLXS traded up $0.29 during trading on Wednesday, reaching $167.52. 150,854 shares of the stock traded hands, compared to its average volume of 135,311. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 41.78 and a beta of 0.90. The stock's 50-day moving average price is $148.52 and its 200 day moving average price is $127.34. The company has a quick ratio of 0.71, a current ratio of 1.51 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 $169.56.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLXS. Needham & Company LLC lifted their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. KeyCorp began coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a "sector weight" rating for the company. StockNews.com upgraded shares of Plexus from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Benchmark lifted their price target on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $133.50.

Insider Buying and Selling at Plexus

In other news, CFO Patrick John Jermain sold 5,045 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $143.13, for a total value of $722,090.85. Following the sale, the chief financial officer now owns 24,602 shares of the company's stock, valued at $3,521,284.26. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the business's stock in a transaction 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 completion of the sale, the insider now directly owns 5,605 shares in the company, valued at approximately $929,869.50. This represents a 34.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,591 shares of company stock valued at $5,143,375. 2.39% of the stock is currently owned by corporate insiders.

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.