Oppenheimer Asset Management Inc. Has $1.72 Million Stake in Plexus Corp. (NASDAQ:PLXS)

Oppenheimer Asset Management Inc. reduced its holdings in Plexus Corp. (NASDAQ:PLXS) by 2.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,555 shares of the technology company’s stock after selling 256 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Plexus were worth $1,716,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PLXS. Quest Partners LLC grew its holdings in Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after buying an additional 367 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after acquiring an additional 219 shares during the period. Innealta Capital LLC acquired a new stake in shares of Plexus in the second quarter worth $51,000. GAMMA Investing LLC increased its position in Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after acquiring an additional 498 shares during the period. Finally, EntryPoint Capital LLC raised its stake in Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after purchasing an additional 351 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLXS shares. KeyCorp began coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. StockNews.com lowered Plexus from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Benchmark raised their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC upped their target price on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Plexus currently has a consensus rating of “Hold” and a consensus price target of $133.50.

Plexus Stock Down 0.4 %

NASDAQ PLXS opened at $153.13 on Monday. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $169.41. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 38.19 and a beta of 0.87. The stock’s 50 day moving average is $139.43 and its two-hundred day moving average is $122.43. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling at Plexus

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the transaction, the chief operating officer now owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Running sold 579 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $153.93, for a total value of $89,125.47. Following the sale, the insider now owns 1,569 shares in the company, valued at $241,516.17. The trade was a 26.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,552 shares of company stock worth $5,250,872 over the last ninety days. Corporate insiders own 2.39% 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.