Victory Capital Management Inc. Grows Position in Plexus Corp. (NASDAQ:PLXS)

Victory Capital Management Inc. grew its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,186 shares of the technology company’s stock after purchasing an additional 7,483 shares during the period. Victory Capital Management Inc.’s holdings in Plexus were worth $27,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PLXS. Louisiana State Employees Retirement System lifted its stake in shares of Plexus by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock valued at $1,424,000 after purchasing an additional 100 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of Plexus by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock valued at $766,000 after acquiring an additional 137 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Plexus by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $383,000 after acquiring an additional 152 shares in the last quarter. Farrow Financial Inc. grew its holdings in shares of Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after acquiring an additional 155 shares during the period. Finally, Arizona State Retirement System increased its stake in Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after purchasing an additional 170 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on PLXS shares. StockNews.com downgraded Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Needham & Company LLC boosted their price objective on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Benchmark raised their target price on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, KeyCorp started coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $133.50.

Plexus Price Performance

NASDAQ:PLXS opened at $153.13 on Monday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 38.19 and a beta of 0.87. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $169.41. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average is $139.43 and its two-hundred day moving average is $122.43.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. Plexus’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 earnings per share. Research analysts expect that Plexus Corp. will post 6.13 EPS for the current year.

Insider Activity at Plexus

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the sale, the chief operating officer now owns 19,585 shares in the company, valued at $3,271,870.10. The trade was a 22.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the transaction, the insider now owns 8,605 shares in the company, valued at approximately $1,097,137.50. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,552 shares of company stock worth $5,250,872. 2.39% of the stock is currently owned by insiders.

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.