Royal Bank of Canada Cuts Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Royal Bank of Canada decreased its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 202,249 shares of the technology company's stock after selling 15,338 shares during the quarter. Royal Bank of Canada owned 0.75% of Plexus worth $31,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLXS. Pacer Advisors Inc. acquired a new stake in shares of Plexus in the 4th quarter valued at approximately $107,489,000. American Century Companies Inc. boosted its stake in shares of Plexus by 72.2% in the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock valued at $85,128,000 after purchasing an additional 228,027 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Plexus in the 4th quarter valued at approximately $24,747,000. JPMorgan Chase & Co. boosted its stake in shares of Plexus by 146.9% in the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after purchasing an additional 154,003 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Plexus by 1,875.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock valued at $21,511,000 after purchasing an additional 130,506 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 4,328 shares of Plexus stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the sale, the chief financial officer now owns 25,637 shares of the company's stock, valued at approximately $3,391,518.73. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.76% of the stock is currently owned by insiders.

Plexus Trading Up 2.4%

Shares of NASDAQ:PLXS traded up $3.17 during mid-day trading on Tuesday, hitting $132.74. The company had a trading volume of 98,360 shares, compared to its average volume of 168,072. The firm has a fifty day moving average price of $125.71 and a 200 day moving average price of $141.90. The company has a market capitalization of $3.60 billion, a PE ratio of 30.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. Plexus Corp. has a one year low of $100.96 and a one year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $980.07 million. During the same quarter last year, the firm posted $0.94 EPS. Plexus's revenue was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research analyst reports. Needham & Company LLC restated 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. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of Plexus in a report on Friday, May 16th. Finally, Stifel Nicolaus set a $145.00 price target on shares of Plexus in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $155.67.

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.