Plexus Corp. (NASDAQ:PLXS) Holdings Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 36.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,551 shares of the technology company's stock after selling 45,069 shares during the quarter. Ameriprise Financial Inc. owned about 0.29% of Plexus worth $12,135,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Algert Global LLC lifted its holdings in shares of Plexus by 121.3% in the fourth quarter. Algert Global LLC now owns 101,336 shares of the technology company's stock worth $15,857,000 after acquiring an additional 55,546 shares during the last quarter. AXA S.A. raised its holdings in shares of Plexus by 4.1% during the fourth quarter. AXA S.A. now owns 36,794 shares of the technology company's stock valued at $5,758,000 after purchasing an additional 1,451 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Plexus in the 4th quarter valued at about $321,000. Northern Trust Corp raised its stake in Plexus by 10.0% during the 4th quarter. Northern Trust Corp now owns 332,100 shares of the technology company's stock worth $51,967,000 after buying an additional 30,163 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of Plexus in the 4th quarter worth $5,037,000. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $145.00 price objective on Plexus in a research report on Thursday, April 24th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of Plexus in a research note on Friday, May 16th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $162.00 price target (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $155.67.

Insider Buying and Selling

In other news, CFO Patrick John Jermain sold 4,328 shares of the 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 sale, the chief financial officer now owns 25,637 shares of the company's stock, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.76% of the stock is currently owned by insiders.

Plexus Trading Down 0.7%

Shares of PLXS traded down $0.89 during trading hours on Friday, reaching $129.57. 99,560 shares of the company traded hands, compared to its average volume of 168,352. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 30.06 and a beta of 0.80. The stock's fifty day moving average price is $125.67 and its 200 day moving average price is $142.31. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.36% and a net margin of 3.03%. The firm had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. During the same quarter in the prior year, the business posted $0.94 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

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.