Northwestern Mutual Wealth Management Co. Raises Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Plexus Corp. (NASDAQ:PLXSGet Rating) by 25.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,045 shares of the technology company’s stock after purchasing an additional 411 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Plexus were worth $167,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLXS. Pinebridge Investments L.P. purchased a new position in shares of Plexus in the fourth quarter valued at approximately $77,000. Johnson Financial Group Inc. purchased a new position in shares of Plexus in the fourth quarter valued at approximately $79,000. Eaton Vance Management lifted its position in shares of Plexus by 11.3% in the fourth quarter. Eaton Vance Management now owns 1,982 shares of the technology company’s stock valued at $98,000 after acquiring an additional 202 shares in the last quarter. Security Financial Services INC. purchased a new position in shares of Plexus in the fourth quarter valued at approximately $240,000. Finally, Legacy Private Trust Co. lifted its position in shares of Plexus by 5.9% in the first quarter. Legacy Private Trust Co. now owns 3,145 shares of the technology company’s stock valued at $257,000 after acquiring an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 94.92% of the company’s stock.

Insiders Place Their Bets

In other Plexus news, CEO Todd P. Kelsey sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief executive officer now owns 16,451 shares of the company’s stock, valued at $1,612,198. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 7,000 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $83.77, for a total transaction of $586,390.00. Following the completion of the sale, the chief executive officer now owns 108,629 shares of the company’s stock, valued at $9,099,851.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 3,000 shares of Plexus stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $98.00, for a total value of $294,000.00. Following the completion of the sale, the chief executive officer now directly owns 16,451 shares of the company’s stock, valued at $1,612,198. The disclosure for this sale can be found here. Insiders sold a total of 29,594 shares of company stock valued at $2,682,264 over the last quarter. 2.17% of the stock is owned by insiders.

Plexus Stock Performance

Shares of Plexus stock opened at $94.20 on Thursday. Plexus Corp. has a one year low of $72.88 and a one year high of $99.11. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 22.11 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.43. The business’s 50 day moving average price is $85.59 and its 200 day moving average price is $83.08.

Plexus (NASDAQ:PLXSGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $981.00 million for the quarter, compared to the consensus estimate of $906.32 million. Plexus had a return on equity of 11.79% and a net margin of 3.43%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. On average, research analysts predict that Plexus Corp. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PLXS shares. Benchmark started coverage on Plexus in a research report on Wednesday, July 27th. They issued a “buy” rating and a $98.00 target price on the stock. Raymond James upgraded Plexus from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research report on Tuesday, June 7th. Finally, JPMorgan Chase & Co. downgraded Plexus from a “neutral” rating to an “underweight” rating and set a $85.00 price objective on the stock. in a research report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.25.

Plexus Profile

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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 to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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