Credit Suisse AG Increases Stake in Plexus Corp. (NASDAQ:PLXS)

Credit Suisse AG grew its position in shares of Plexus Corp. (NASDAQ:PLXS) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,270 shares of the technology company’s stock after buying an additional 2,037 shares during the quarter. Credit Suisse AG owned 0.10% of Plexus worth $2,329,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN raised its position in Plexus by 1.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,843,609 shares of the technology company’s stock worth $177,754,000 after buying an additional 54,190 shares during the last quarter. Victory Capital Management Inc. raised its position in Plexus by 1,789.9% during the 4th quarter. Victory Capital Management Inc. now owns 615,547 shares of the technology company’s stock worth $47,360,000 after buying an additional 582,976 shares during the last quarter. Chartwell Investment Partners LLC raised its position in Plexus by 0.6% during the 4th quarter. Chartwell Investment Partners LLC now owns 335,818 shares of the technology company’s stock worth $25,838,000 after buying an additional 1,975 shares during the last quarter. Millennium Management LLC raised its position in Plexus by 112.6% during the 3rd quarter. Millennium Management LLC now owns 127,563 shares of the technology company’s stock worth $7,973,000 after buying an additional 1,143,563 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Plexus by 4.9% during the 4th quarter. Rhumbline Advisers now owns 105,765 shares of the technology company’s stock worth $8,138,000 after buying an additional 4,926 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

A number of equities analysts have commented on the stock. Needham & Company LLC cut their price objective on shares of Plexus from $80.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday. Raymond James assumed coverage on shares of Plexus in a research report on Thursday, February 27th. They set a “market perform” rating for the company. JPMorgan Chase & Co. upgraded shares of Plexus from a “neutral” rating to an “overweight” rating and set a $84.00 price objective for the company in a research report on Monday, March 9th. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, March 11th. Finally, BidaskClub downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $73.50.

In other news, VP Ronnie Darroch sold 5,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $76.51, for a total transaction of $382,550.00. Following the transaction, the vice president now directly owns 14,338 shares of the company’s stock, valued at approximately $1,097,000.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

NASDAQ:PLXS opened at $50.48 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.25. Plexus Corp. has a fifty-two week low of $35.16 and a fifty-two week high of $86.53. The stock has a market cap of $1.45 billion, a PE ratio of 13.99 and a beta of 0.95. The firm’s fifty day simple moving average is $63.37 and its 200-day simple moving average is $69.89.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.07. Plexus had a net margin of 3.61% and a return on equity of 12.26%. The business had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $803.38 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts anticipate that Plexus Corp. will post 3.85 earnings per share for the current year.

Plexus Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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