Victory Capital Management Inc. Raises Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Victory Capital Management Inc. grew its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,186 shares of the technology company's stock after purchasing an additional 7,483 shares during the period. Victory Capital Management Inc. owned about 0.74% of Plexus worth $27,367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UniSuper Management Pty Ltd acquired a new stake in Plexus during the first quarter valued at $515,000. Vanguard Group Inc. raised its holdings in shares of Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company's stock valued at $333,374,000 after buying an additional 74,988 shares during the last quarter. Comerica Bank increased its stake in shares of Plexus by 22.5% in the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company's stock valued at $7,758,000 after buying an additional 15,046 shares during the period. Harbor Capital Advisors Inc. lifted its position in Plexus by 269.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company's stock valued at $750,000 after purchasing an additional 5,303 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Plexus by 68.4% in the 1st quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company's stock worth $6,281,000 after purchasing an additional 26,904 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, COO Oliver K. Mihm sold 5,691 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were 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. The trade was a 22.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the transaction, the chief accounting officer now directly owns 35,323 shares of the company's stock, valued at $5,093,223.37. This represents a 8.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,552 shares of company stock valued at $5,250,872. Company insiders own 2.39% of the company's stock.

Plexus Stock Performance

NASDAQ PLXS traded up $3.08 during trading hours on Monday, reaching $156.21. 234,041 shares of the company were exchanged, compared to its average volume of 132,350. 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 stock has a market capitalization of $4.25 billion, a P/E ratio of 38.96 and a beta of 0.87. The business's 50 day simple moving average is $140.17 and its 200-day simple moving average is $122.81. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41.

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 the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $1.44 EPS. On average, equities research analysts expect that Plexus Corp. will post 6.13 earnings per share for the current year.

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.