UBS Asset Management Americas Inc. boosted its position in shares of Plexus Corp. (NASDAQ:PLXS) by 53.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,805 shares of the technology company’s stock after buying an additional 8,672 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.07% of Plexus Corp. worth $1,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Plexus Corp. during the fourth quarter worth $22,421,000. Bank of New York Mellon Corp increased its stake in shares of Plexus Corp. by 40.4% in the first quarter. Bank of New York Mellon Corp now owns 594,199 shares of the technology company’s stock worth $34,344,000 after buying an additional 170,844 shares during the last quarter. State Street Corp increased its stake in shares of Plexus Corp. by 9.1% in the fourth quarter. State Street Corp now owns 817,047 shares of the technology company’s stock worth $44,154,000 after buying an additional 68,072 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Plexus Corp. by 285.6% in the first quarter. American Century Companies Inc. now owns 75,907 shares of the technology company’s stock worth $4,387,000 after buying an additional 56,220 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Plexus Corp. by 418,700.0% in the first quarter. Acadian Asset Management LLC now owns 50,256 shares of the technology company’s stock worth $2,905,000 after buying an additional 50,244 shares during the last quarter. 95.20% of the stock is currently owned by institutional investors and hedge funds.

Plexus Corp. (NASDAQ:PLXS) traded up 0.57% during midday trading on Monday, reaching $52.69. The company’s stock had a trading volume of 84,731 shares. The firm’s 50-day moving average price is $52.92 and its 200-day moving average price is $54.20. The stock has a market capitalization of $1.77 billion, a PE ratio of 17.79 and a beta of 0.93. Plexus Corp. has a 52 week low of $44.35 and a 52 week high of $58.74.

Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. On average, analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current year.

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A number of brokerages have recently commented on PLXS. Stifel Nicolaus restated a “hold” rating and issued a $54.00 target price (up previously from $50.00) on shares of Plexus Corp. in a research note on Friday, July 21st. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Deutsche Bank AG increased their price target on Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Citigroup Inc. increased their price target on Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, ValuEngine downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $58.25.

In other news, Director Michael V. Schrock sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total transaction of $256,850.00. Following the transaction, the director now owns 28,298 shares in the company, valued at approximately $1,453,668.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 11,250 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total transaction of $619,762.50. Following the transaction, the chief executive officer now owns 57,175 shares in the company, valued at approximately $3,149,770.75. The disclosure for this sale can be found here. Insiders have sold a total of 80,106 shares of company stock valued at $4,373,206 in the last three months. Company insiders own 4.30% of the company’s stock.

Plexus Corp. Company Profile

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

Institutional Ownership by Quarter for Plexus Corp. (NASDAQ:PLXS)

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