BNP Paribas Arbitrage SA raised its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 53.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,246 shares of the technology company’s stock after purchasing an additional 6,368 shares during the quarter. BNP Paribas Arbitrage SA owned 0.05% of Plexus worth $1,023,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PLXS. Teachers Advisors LLC lifted its holdings in Plexus by 5.4% during the 1st quarter. Teachers Advisors LLC now owns 66,076 shares of the technology company’s stock worth $3,819,000 after buying an additional 3,408 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in Plexus during the 2nd quarter worth approximately $534,000. NGAM Advisors L.P. bought a new position in Plexus during the 2nd quarter worth approximately $2,143,000. Great West Life Assurance Co. Can lifted its holdings in Plexus by 2.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 47,743 shares of the technology company’s stock worth $2,509,000 after buying an additional 1,100 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Plexus by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 42,100 shares of the technology company’s stock worth $2,213,000 after buying an additional 500 shares during the last quarter. 94.18% of the stock is currently owned by institutional investors.
In related news, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $61.58, for a total value of $985,280.00. Following the sale, the chief accounting officer now directly owns 18,159 shares in the company, valued at approximately $1,118,231.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Dean A. Foate sold 2,397 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $61.69, for a total value of $147,870.93. Following the completion of the sale, the chairman now owns 303,920 shares in the company, valued at $18,748,824.80. The disclosure for this sale can be found here. In the last three months, insiders sold 205,696 shares of company stock worth $12,706,971. Company insiders own 4.30% of the company’s stock.
Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $670.00 million for the quarter, compared to the consensus estimate of $676.23 million. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. analysts forecast that Plexus Corp. will post 3.41 earnings per share for the current year.
A number of research analysts have commented on PLXS shares. J P Morgan Chase & Co raised Plexus from a “neutral” rating to an “overweight” rating and set a $62.00 target price on the stock in a report on Monday, August 28th. Citigroup increased their target price on Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Zacks Investment Research downgraded Plexus from a “hold” rating to a “sell” rating in a report on Monday, October 30th. ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Finally, BidaskClub downgraded Plexus from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $57.86.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
Want to see what other hedge funds are holding PLXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plexus Corp. (NASDAQ:PLXS).
Receive News & Ratings for Plexus Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus Corp. and related companies with MarketBeat.com's FREE daily email newsletter.