Creative Planning Grows Holdings in Plexus Corp. (NASDAQ:PLXS)

Creative Planning grew its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 56.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,616 shares of the technology company's stock after buying an additional 5,245 shares during the period. Creative Planning owned 0.05% of Plexus worth $1,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its position in shares of Plexus by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company's stock worth $1,424,000 after purchasing an additional 100 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Plexus by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company's stock worth $766,000 after buying an additional 137 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Plexus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company's stock valued at $383,000 after purchasing an additional 152 shares during the period. Farrow Financial Inc. lifted its stake in Plexus by 0.8% in the second quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company's stock worth $2,222,000 after acquiring an additional 167 shares during the period. Finally, Arizona State Retirement System lifted its stake in Plexus by 2.2% in the second quarter. Arizona State Retirement System now owns 7,729 shares of the technology company's stock worth $797,000 after acquiring an additional 170 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLXS. Needham & Company LLC raised their price target on Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a research note on Friday. Benchmark raised their price target on Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday. Finally, KeyCorp began coverage on Plexus in a research note on Tuesday, October 22nd. They issued a "sector weight" rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $133.50.

Plexus Stock Up 1.4 %

PLXS traded up $2.03 during trading on Tuesday, reaching $145.35. The stock had a trading volume of 209,146 shares, compared to its average volume of 129,666. The stock's 50 day moving average is $131.15 and its two-hundred day moving average is $116.73. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 36.25 and a beta of 0.89. Plexus Corp. has a one year low of $90.18 and a one year high of $153.60.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 earnings per share. As a group, analysts expect that Plexus Corp. will post 5.63 earnings per share for the current year.

Insider Activity

In other news, insider Steven J. Frisch sold 6,565 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the transaction, the insider now directly owns 36,118 shares in the company, valued at $4,627,076.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the sale, the insider now directly owns 36,118 shares of the company's stock, valued at $4,627,076.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 20,113 shares of company stock worth $2,541,394 over the last three months. 2.39% of the stock is currently owned by corporate insiders.

Plexus 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.