Plexus Corp. (NASDAQ:PLXS) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 21.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,921 shares of the technology company's stock after selling 33,401 shares during the quarter. Bank of America Corp DE owned approximately 0.44% of Plexus worth $18,609,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PLXS. TD Private Client Wealth LLC purchased a new stake in shares of Plexus during the 4th quarter worth $28,000. Aquatic Capital Management LLC raised its stake in Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after buying an additional 134 shares during the last quarter. R Squared Ltd purchased a new stake in Plexus in the fourth quarter valued at about $45,000. Nomura Asset Management Co. Ltd. raised its stake in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock valued at $50,000 after buying an additional 100 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Plexus by 12.1% in the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock valued at $121,000 after buying an additional 84 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stifel Nicolaus set a $145.00 price objective on Plexus in a research note on Thursday, April 24th. Needham & Company LLC restated a "buy" rating and issued a $162.00 price objective (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Finally, Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of Plexus in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $155.67.

Plexus Trading Down 0.7%

Plexus stock traded down $0.89 during trading on Monday, reaching $129.57. 99,560 shares of the company were exchanged, compared to its average volume of 168,352. Plexus Corp. has a 52-week low of $100.96 and a 52-week high of $172.89. The company has a market capitalization of $3.51 billion, a P/E ratio of 30.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The stock's 50 day simple moving average is $125.71 and its two-hundred day simple moving average is $141.90.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.12. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The company had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company's revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 4,328 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $132.29, for a total transaction of $572,551.12. Following the completion of the transaction, the chief financial officer now directly owns 25,637 shares of the company's stock, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.76% of the company's stock.

About Plexus

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.