Plexus Corp. $PLXS Stock Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its stake in Plexus Corp. (NASDAQ:PLXS) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,818 shares of the technology company’s stock after selling 13,206 shares during the period. Boston Trust Walden Corp’s holdings in Plexus were worth $50,838,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Trust Point Inc. lifted its holdings in Plexus by 5.5% during the 2nd quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock worth $393,000 after buying an additional 68 shares in the last quarter. Smith Group Asset Management LLC boosted its position in Plexus by 1.6% in the 3rd quarter. Smith Group Asset Management LLC now owns 4,536 shares of the technology company’s stock valued at $1,184,000 after buying an additional 73 shares during the last quarter. Signaturefd LLC increased its stake in shares of Plexus by 6.1% in the 3rd quarter. Signaturefd LLC now owns 1,765 shares of the technology company’s stock valued at $461,000 after buying an additional 101 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Plexus by 6.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,858 shares of the technology company’s stock valued at $376,000 after buying an additional 105 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Plexus in the 2nd quarter valued at $32,000. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Sunday. Needham & Company LLC reissued a “buy” rating and set a $310.00 price target on shares of Plexus in a research note on Friday, August 14th. Finally, Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $276.86.

Plexus Stock Down 4.6%

NASDAQ:PLXS opened at $206.72 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.43 and a debt-to-equity ratio of 0.05. Plexus Corp. has a 12-month low of $132.03 and a 12-month high of $307.06. The stock’s fifty day simple moving average is $245.04 and its 200-day simple moving average is $239.97. The firm has a market capitalization of $5.53 billion, a P/E ratio of 27.86 and a beta of 0.97.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.29. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.36 billion. Plexus had a return on equity of 13.34% and a net margin of 4.08%. The firm’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 earnings per share. Equities research analysts expect that Plexus Corp. will post 9.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael V. Schrock sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the sale, the director directly owned 40,329 shares of the company’s stock, valued at $11,090,475. This represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total transaction of $376,470.00. Following the completion of the sale, the chief executive officer owned 65,888 shares in the company, valued at $16,536,570.24. This represents a 2.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 9,000 shares of company stock worth $2,319,260. Insiders own 1.78% of the company’s stock.

Plexus Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.