Plexus Corp. (NASDAQ:PLXS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,821 shares of the technology company's stock after selling 9,204 shares during the period. JPMorgan Chase & Co. owned 0.39% of Plexus worth $14,330,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in shares of Plexus by 102.7% during the 3rd quarter. Tidal Investments LLC now owns 5,723 shares of the technology company's stock worth $782,000 after buying an additional 2,899 shares during the last quarter. Geode Capital Management LLC increased its stake in Plexus by 0.8% during the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company's stock worth $89,392,000 after acquiring an additional 4,926 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Plexus by 2.8% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company's stock worth $296,457,000 after acquiring an additional 59,465 shares during the last quarter. Barclays PLC raised its position in Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock valued at $6,669,000 after purchasing an additional 28,406 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Plexus in the 3rd quarter valued at $286,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price objective on Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Plexus from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Benchmark upped their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, October 28th. KeyCorp initiated coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a "sector weight" rating for the company. Finally, Stifel Nicolaus boosted their target price on Plexus from $136.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. 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, Plexus has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.

Plexus Stock Down 1.4 %

Shares of NASDAQ PLXS traded down $2.27 during midday trading on Friday, hitting $161.20. The company's stock had a trading volume of 139,104 shares, compared to its average volume of 128,601. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $170.07. The business's fifty day simple moving average is $161.14 and its two-hundred day simple moving average is $137.68. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 40.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

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 the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company posted $1.44 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Plexus Corp. will post 6.14 EPS for the current year.

Insider Buying and Selling

In other news, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction on Monday, October 28th. The shares were sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the sale, the chief financial officer now directly owns 24,602 shares of the company's stock, valued at approximately $3,521,284.26. The trade was a 17.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Oliver K. Mihm sold 5,691 shares of the business'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 transaction, the chief operating officer now owns 19,585 shares of the company's stock, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,091 shares of company stock valued at $5,377,960 in the last three months. 1.76% of the stock is 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.