Plexus Corp. $PLXS Stock: Summit Creek Advisors LLC Increases Holdings

Summit Creek Advisors LLC increased its position in shares of Plexus Corp. (NASDAQ:PLXS) by 292.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,273 shares of the technology company’s stock after acquiring an additional 14,356 shares during the quarter. Plexus comprises approximately 2.0% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Summit Creek Advisors LLC owned about 0.07% of Plexus worth $5,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PLXS. BlackRock Inc. acquired a new stake in Plexus in the second quarter worth $1,311,631,000. Congress Asset Management Co. boosted its position in shares of Plexus by 204.0% during the third quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company’s stock worth $82,303,000 after purchasing an additional 211,663 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Plexus in the 2nd quarter valued at $60,281,000. Bank of New York Mellon Corp acquired a new position in shares of Plexus in the 2nd quarter valued at $55,525,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Plexus in the 2nd quarter valued at $35,755,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Up 2.4%

Shares of PLXS stock opened at $192.17 on Friday. The firm has a fifty day moving average of $242.84 and a 200-day moving average of $240.08. The company has a quick ratio of 0.67, a current ratio of 1.43 and a debt-to-equity ratio of 0.05. Plexus Corp. has a 12-month low of $132.03 and a 12-month high of $307.06. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 25.90 and a beta of 0.97.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 28th. The technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.36 billion. Plexus had a net margin of 4.08% and a return on equity of 13.34%. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 EPS. As a group, equities research analysts predict that Plexus Corp. will post 9.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $310.00 price target on shares of Plexus in a report on Friday, August 14th. Finally, Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target on the stock in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $276.86.

Insider Transactions at Plexus

In other Plexus news, Director Karen Rapp sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $240.87, for a total value of $120,435.00. Following the sale, the director owned 7,535 shares in the company, valued at approximately $1,814,955.45. The trade was a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the transaction, the chief executive officer directly owned 65,888 shares of the company’s stock, valued at approximately $16,536,570.24. This trade represents a 2.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,000 shares of company stock valued at $2,319,260 over the last three months. Company insiders own 1.78% of the company’s stock.

Plexus Company Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.