Plexus Corp. (NASDAQ:PLXS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 231,706 shares of the technology company's stock after selling 5,571 shares during the period. Massachusetts Financial Services Co. MA owned about 0.86% of Plexus worth $29,688,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its holdings in Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares in the last quarter. Xponance Inc. grew its holdings in shares of Plexus by 4.8% during the 1st quarter. Xponance Inc. now owns 2,315 shares of the technology company's stock worth $297,000 after acquiring an additional 106 shares during the period. Aquatic Capital Management LLC boosted its position in shares of Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock worth $37,000 after purchasing an additional 134 shares in the last quarter. Squarepoint Ops LLC lifted its position in Plexus by 1.1% in the 4th quarter. Squarepoint Ops LLC now owns 13,846 shares of the technology company's stock valued at $2,167,000 after acquiring an additional 148 shares in the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in Plexus during the 4th quarter valued at $28,000. Institutional investors own 94.45% of the company's stock.

Plexus Trading Down 2.9%

Plexus stock traded down $4.07 during trading on Friday, hitting $134.79. The company had a trading volume of 200,744 shares, compared to its average volume of 171,612. Plexus Corp. has a 1-year low of $103.43 and a 1-year high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company's 50 day simple moving average is $133.63 and its 200-day simple moving average is $134.61. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 26.22 and a beta of 0.80.

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

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $129.87, for a total value of $194,805.00. Following the completion of the sale, the chief executive officer directly owned 75,214 shares of the company's stock, valued at approximately $9,768,042.18. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patrick John Jermain sold 4,328 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $132.29, for a total transaction of $572,551.12. Following the completion of the sale, the chief financial officer directly owned 25,637 shares of the company's stock, valued at $3,391,518.73. The trade was a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock valued at $1,582,222 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of analyst reports. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $162.00 price target (down previously from $172.00) on shares of Plexus in a research note on Friday, April 25th. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a report on Thursday, April 24th. Finally, Wall Street Zen raised Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

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.