ProShare Advisors LLC Boosts Stake in Plexus Corp. (NASDAQ:PLXS)

ProShare Advisors LLC boosted its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 42.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,088 shares of the technology company's stock after buying an additional 2,415 shares during the quarter. ProShare Advisors LLC's holdings in Plexus were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in PLXS. Pacer Advisors Inc. purchased a new position in shares of Plexus in the fourth quarter worth $107,489,000. American Century Companies Inc. lifted its holdings in Plexus by 72.2% in the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock worth $85,128,000 after buying an additional 228,027 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Plexus by 6.6% during the 4th quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company's stock worth $55,012,000 after acquiring an additional 21,911 shares during the period. Northern Trust Corp grew its stake in Plexus by 10.0% in the fourth quarter. Northern Trust Corp now owns 332,100 shares of the technology company's stock worth $51,967,000 after purchasing an additional 30,163 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Plexus by 146.9% during the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after buying an additional 154,003 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Plexus Stock Performance

Shares of NASDAQ PLXS traded down $1.96 during trading on Wednesday, reaching $130.78. 17,500 shares of the company traded hands, compared to its average volume of 167,480. Plexus Corp. has a 52-week low of $100.96 and a 52-week high of $172.89. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $125.79 and a 200-day simple moving average of $141.84. The stock has a market capitalization of $3.54 billion, a PE ratio of 30.33 and a beta of 0.80.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 10.36% and a net margin of 3.03%. The business's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Equities research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of Plexus stock in a transaction that occurred 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 sale, the chief executive officer now owns 78,714 shares of the company's stock, valued at approximately $10,232,820. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick John Jermain sold 4,328 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the transaction, the chief financial officer now owns 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 7,328 shares of company stock worth $965,911 in the last three months. Corporate insiders own 1.76% of the company's stock.

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.