Algert Global LLC Purchases 43,009 Shares of Plexus Corp. (NASDAQ:PLXS)

Algert Global LLC lifted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 1,546.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,790 shares of the technology company’s stock after purchasing an additional 43,009 shares during the period. Algert Global LLC owned 0.17% of Plexus worth $6,260,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of Plexus by 0.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock worth $217,611,000 after purchasing an additional 7,245 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Plexus by 8.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after purchasing an additional 87,574 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Plexus by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after purchasing an additional 23,074 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Plexus by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock worth $46,772,000 after purchasing an additional 31,099 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Plexus

In other news, insider Michael J. Running sold 579 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $153.93, for a total value of $89,125.47. Following the completion of the transaction, the insider now directly owns 1,569 shares in the company, valued at approximately $241,516.17. This represents a 26.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the transaction, the insider now owns 8,605 shares of the company’s stock, valued at $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. Insiders have sold 34,091 shares of company stock valued at $5,334,885 over the last three months. 2.39% of the stock is owned by corporate insiders.

Plexus Trading Up 1.5 %

Plexus stock opened at $162.01 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $169.41. The stock has a market cap of $4.39 billion, a P/E ratio of 40.40 and a beta of 0.87. The firm’s fifty day moving average price is $143.00 and its 200-day moving average price is $124.06.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. Equities research analysts forecast that Plexus Corp. will post 6.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLXS. Needham & Company LLC raised their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. KeyCorp assumed coverage on Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, Benchmark increased their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Plexus has an average rating of “Moderate Buy” and a consensus price target of $133.50.

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.