SummerHaven Investment Management LLC Grows Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

SummerHaven Investment Management LLC lifted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,425 shares of the technology company’s stock after acquiring an additional 137 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Plexus were worth $766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC grew its position in Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Plexus by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after acquiring an additional 152 shares during the period. Farrow Financial Inc. increased its stake in shares of Plexus by 0.8% in the second quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company’s stock worth $2,222,000 after acquiring an additional 167 shares during the period. Congress Asset Management Co. MA grew its position in Plexus by 1.1% during the 1st quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock worth $1,543,000 after purchasing an additional 184 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Plexus by 0.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,461 shares of the technology company’s stock valued at $2,219,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $109.50, for a total transaction of $109,500.00. Following the completion of the sale, the chief executive officer now directly owns 102,338 shares of the company’s stock, valued at approximately $11,206,011. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Plexus news, insider Steven J. Frisch sold 6,048 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $123.99, for a total value of $749,891.52. Following the sale, the insider now owns 30,070 shares of the company’s stock, valued at $3,728,379.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $109.50, for a total value of $109,500.00. Following the completion of the sale, the chief executive officer now owns 102,338 shares in the company, valued at $11,206,011. The disclosure for this sale can be found here. Insiders have sold 22,269 shares of company stock valued at $2,763,224 in the last ninety days. 2.39% of the stock is currently owned by company insiders.

Plexus Stock Up 1.9 %

Plexus stock traded up $2.30 during mid-day trading on Friday, reaching $126.39. 10,677 shares of the company’s stock were exchanged, compared to its average volume of 124,735. Plexus Corp. has a twelve month low of $87.21 and a twelve month high of $132.46. The company has a fifty day moving average of $113.74 and a 200-day moving average of $104.31. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.44 billion, a P/E ratio of 34.28 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The firm had revenue of $960.70 million for the quarter, compared to analyst estimates of $981.32 million. During the same period in the prior year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts expect that Plexus Corp. will post 3.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLXS. Stifel Nicolaus increased their target price on Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Needham & Company LLC raised their price target on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Benchmark upped their target price on Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.00.

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.