Assenagon Asset Management S.A. Has $8.02 Million Stake in Plexus Corp. (NASDAQ:PLXS)

Assenagon Asset Management S.A. trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 21.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,594 shares of the technology company's stock after selling 17,120 shares during the quarter. Assenagon Asset Management S.A. owned about 0.23% of Plexus worth $8,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLXS. Handelsbanken Fonder AB increased its holdings in shares of Plexus by 27.4% during the 1st quarter. Handelsbanken Fonder AB now owns 8,837 shares of the technology company's stock valued at $1,132,000 after acquiring an additional 1,900 shares during the last quarter. SG Americas Securities LLC acquired a new position in Plexus during the first quarter valued at approximately $917,000. GAMMA Investing LLC raised its position in shares of Plexus by 49.6% in the first quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company's stock valued at $171,000 after purchasing an additional 442 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of Plexus in the first quarter valued at approximately $2,588,000. Finally, Sendero Wealth Management LLC lifted its stake in shares of Plexus by 17.3% in the first quarter. Sendero Wealth Management LLC now owns 5,478 shares of the technology company's stock worth $702,000 after buying an additional 809 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Stifel Nicolaus set a $145.00 price objective on Plexus in a research note on Thursday, April 24th. Wall Street Zen raised Plexus from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, 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 report on Friday, April 25th. Two investment 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $155.67.

Insider Activity

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $130.00, for a total transaction of $130,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,714 shares in the company, valued at $10,232,820. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $132.22, for a total transaction of $272,108.76. Following the completion of the sale, the chief accounting officer now owns 26,133 shares in the company, valued at $3,455,305.26. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,032 shares of company stock worth $1,582,222. 1.76% of the stock is currently owned by corporate insiders.

Plexus Stock Performance

PLXS traded up $0.39 on Wednesday, hitting $131.23. 55,470 shares of the stock traded hands, compared to its average volume of 169,480. The business has a fifty day moving average price of $128.37 and a two-hundred day moving average price of $138.99. 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 firm has a market capitalization of $3.56 billion, a PE ratio of 25.53 and a beta of 0.81. Plexus Corp. has a 52 week low of $100.96 and a 52 week high of $172.89.

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 analysts' consensus estimates of $1.54 by $0.12. The business had revenue of $980.17 million for the quarter, compared to analysts' expectations of $980.07 million. Plexus had a return on equity of 11.17% and a net margin of 3.60%. Plexus's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share. On average, research analysts predict that Plexus Corp. will post 5.9 EPS 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.