Bank of New York Mellon Corp lifted its holdings in shares of Plexus Corp. (NASDAQ:PLXS – Free Report) by 31.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 380,170 shares of the technology company’s stock after acquiring an additional 91,203 shares during the period. Bank of New York Mellon Corp owned approximately 1.38% of Plexus worth $37,093,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. CWM LLC grew its stake in shares of Plexus by 42.4% during the first quarter. CWM LLC now owns 413 shares of the technology company’s stock worth $40,000 after acquiring an additional 123 shares during the last quarter. UBS Group AG boosted its position in Plexus by 294.9% in the third quarter. UBS Group AG now owns 924 shares of the technology company’s stock valued at $81,000 after buying an additional 690 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Plexus by 553.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 837 shares of the technology company’s stock valued at $86,000 after buying an additional 709 shares during the last quarter. Ronald Blue Trust Inc. boosted its position in Plexus by 23.6% in the first quarter. Ronald Blue Trust Inc. now owns 1,007 shares of the technology company’s stock valued at $103,000 after buying an additional 192 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Plexus in the fourth quarter valued at approximately $111,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.
Plexus Trading Up 2.2 %
Plexus stock opened at $101.04 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. Plexus Corp. has a 12 month low of $83.84 and a 12 month high of $115.36. The stock’s 50 day simple moving average is $97.99 and its two-hundred day simple moving average is $95.05. The firm has a market cap of $2.78 billion, a PE ratio of 19.14 and a beta of 1.11.
Analysts Set New Price Targets
A number of equities research analysts recently commented on PLXS shares. StockNews.com started coverage on Plexus in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Needham & Company LLC upped their target price on Plexus from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.80.
View Our Latest Stock Analysis on Plexus
Insider Transactions at Plexus
In other news, CEO Todd P. Kelsey sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $97.00, for a total transaction of $582,000.00. Following the completion of the transaction, the chief executive officer now directly owns 119,885 shares of the company’s stock, valued at approximately $11,628,845. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.05% of the company’s stock.
Plexus Company Profile
Plexus Corp., together with its subsidiaries, 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.
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