Assenagon Asset Management S.A. Increases Stake in Plexus Corp. (NASDAQ:PLXS)

Assenagon Asset Management S.A. grew its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 158.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,575 shares of the technology company's stock after acquiring an additional 50,564 shares during the period. Assenagon Asset Management S.A. owned about 0.30% of Plexus worth $11,289,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new position in shares of Plexus during the first quarter valued at approximately $267,000. BNP Paribas Financial Markets raised its holdings in Plexus by 13.8% in the 1st quarter. BNP Paribas Financial Markets now owns 25,424 shares of the technology company's stock worth $2,411,000 after purchasing an additional 3,087 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Plexus in the 1st quarter worth about $216,000. Farrow Financial Inc. boosted its stake in shares of Plexus by 7.3% during the 1st quarter. Farrow Financial Inc. now owns 21,370 shares of the technology company's stock valued at $2,026,000 after purchasing an additional 1,446 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Plexus by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 24,166 shares of the technology company's stock valued at $2,291,000 after buying an additional 426 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PLXS shares. Benchmark lifted their price objective on Plexus from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday. Needham & Company LLC raised their target price on Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a research note on Friday. Finally, KeyCorp started coverage on Plexus in a research report on Tuesday, October 22nd. They set a "sector weight" rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Plexus has an average rating of "Hold" and a consensus target price of $133.50.

Plexus Stock Up 1.5 %

Shares of NASDAQ PLXS traded up $2.13 on Monday, reaching $143.32. 215,635 shares of the company's stock traded hands, compared to its average volume of 129,284. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The business's 50 day simple moving average is $131.15 and its two-hundred day simple moving average is $116.73. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $153.60. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 35.74 and a beta of 0.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 9.51% and a net margin of 2.82%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.44 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Plexus Corp. will post 5.63 EPS for the current fiscal year.

Insider Transactions at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the sale, the director now directly owns 9,586 shares of the company's stock, valued at approximately $1,227,199.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Steven J. Frisch sold 6,565 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the transaction, the insider now owns 36,118 shares in the company, valued at $4,627,076.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the sale, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,113 shares of company stock valued at $2,541,394 in the last quarter. 2.39% of the stock is owned by 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.