Plexus Corp. (NASDAQ:PLXS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Plexus Corp. (NASDAQ:PLXS) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,922 shares of the technology company’s stock after selling 10,519 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Plexus worth $18,308,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PLXS. Quest Partners LLC raised its stake in shares of Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Innealta Capital LLC purchased a new position in Plexus in the second quarter worth $51,000. Farther Finance Advisors LLC lifted its holdings in Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after acquiring an additional 219 shares during the period. EntryPoint Capital LLC boosted its position in shares of Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after purchasing an additional 351 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Plexus by 190.1% during the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PLXS shares. StockNews.com lowered shares of Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Needham & Company LLC lifted their price objective on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Finally, Benchmark lifted their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Plexus has a consensus rating of “Hold” and a consensus target price of $133.50.

Plexus Trading Down 1.4 %

Plexus stock opened at $153.71 on Friday. The stock has a 50-day moving average price of $138.77 and a 200 day moving average price of $121.79. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $169.41. The stock has a market cap of $4.19 billion, a PE ratio of 38.33 and a beta of 0.87. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 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 net margin of 2.82% and a return on equity of 9.51%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. Equities research analysts predict that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the 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 owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the sale, the chief executive officer now directly owns 85,026 shares of the company’s stock, valued at $10,628,250. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,973 shares of company stock worth $5,411,746. Insiders own 2.39% of the company’s stock.

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.