Ameriprise Financial Inc. Has $12.14 Million Holdings in Plexus Corp. (NASDAQ:PLXS)

Ameriprise Financial Inc. cut its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 36.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,551 shares of the technology company's stock after selling 45,069 shares during the period. Ameriprise Financial Inc. owned approximately 0.29% of Plexus worth $12,135,000 at the end of the most recent quarter.

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

Insider Activity at Plexus

In related news, insider Michael J. Running sold 1,250 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the transaction, the insider now directly owns 1,276 shares in the company, valued at approximately $176,879.12. This trade represents a 49.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Patrick John Jermain sold 4,328 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 25,637 shares in the company, 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. 1.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PLXS shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $162.00 target price (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research report on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price target on shares of Plexus in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Plexus currently has an average rating of "Moderate Buy" and a consensus price target of $155.67.

Plexus Stock Down 1.4%

Shares of NASDAQ PLXS traded down $1.91 during trading hours on Wednesday, hitting $130.26. The stock had a trading volume of 115,370 shares, compared to its average volume of 168,733. The company has a market capitalization of $3.53 billion, a P/E ratio of 30.22 and a beta of 0.80. The firm's 50-day moving average price is $125.45 and its two-hundred day moving average price is $142.76. Plexus Corp. has a 52 week low of $100.96 and a 52 week high of $172.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

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

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.