Bank of New York Mellon Corp Sells 96,379 Shares of Plexus Corp. (NASDAQ:PLXS)

Bank of New York Mellon Corp trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 29.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,296 shares of the technology company's stock after selling 96,379 shares during the period. Bank of New York Mellon Corp owned 0.87% of Plexus worth $30,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLXS. American Century Companies Inc. increased its stake in shares of Plexus by 72.2% in the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock valued at $85,128,000 after buying an additional 228,027 shares in the last quarter. GAMMA Investing LLC grew its holdings in Plexus by 19,069.1% during the 1st quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company's stock worth $21,884,000 after acquiring an additional 169,906 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Plexus in the 4th quarter valued at about $24,747,000. JPMorgan Chase & Co. increased its position in Plexus by 146.9% in the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after acquiring an additional 154,003 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Plexus by 1,875.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock worth $21,511,000 after acquiring an additional 130,506 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PLXS. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research note on Thursday, April 24th. Needham & Company LLC reissued a "buy" rating and issued a $162.00 target price (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Benchmark restated a "buy" rating and set a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Finally, Wall Street Zen raised Plexus from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Plexus presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.67.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 4,328 shares of the business'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 directly owned 25,637 shares in the company, valued at approximately $3,391,518.73. The trade was a 14.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Running sold 646 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.05, for a total transaction of $84,012.30. Following the completion of the sale, the insider owned 630 shares in the company, valued at $81,931.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,032 shares of company stock valued at $1,582,222. Corporate insiders own 1.76% of the company's stock.

Plexus Trading Down 2.9%

NASDAQ PLXS traded down $4.07 during trading hours on Friday, hitting $134.79. The company's stock had a trading volume of 200,744 shares, compared to its average volume of 171,416. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89. The firm has a market capitalization of $3.65 billion, a P/E ratio of 26.22 and a beta of 0.80. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $133.63 and a 200 day moving average of $134.76.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The company had revenue of $980.17 million during the quarter, compared to analysts' expectations of $980.07 million. During the same quarter in the previous year, the company posted $0.94 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Plexus 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.