Harvest Fund Management Co. Ltd Purchases New Stake in Plexus Corp. (NASDAQ:PLXS)

Harvest Fund Management Co. Ltd acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,848 shares of the technology company’s stock, valued at approximately $389,000.

Other large investors also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Plexus by 22.5% during the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock valued at $7,758,000 after acquiring an additional 15,046 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Plexus by 269.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock worth $750,000 after purchasing an additional 5,303 shares during the period. Janus Henderson Group PLC boosted its holdings in Plexus by 68.4% in the 1st quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock valued at $6,281,000 after purchasing an additional 26,904 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Plexus by 0.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after buying an additional 7,245 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Plexus by 62.6% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company’s stock valued at $1,825,000 after buying an additional 5,138 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Price Performance

PLXS stock opened at $164.54 on Wednesday. The business’s fifty day moving average price is $143.70 and its 200 day moving average price is $124.68. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $169.41. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.46 billion, a PE ratio of 41.03 and a beta of 0.87.

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

Insider Buying and Selling

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now directly owns 35,323 shares of the company’s stock, valued at $5,093,223.37. The trade was a 8.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the sale, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. This trade represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,091 shares of company stock valued at $5,207,385 in the last ninety days. Company insiders own 2.39% of the company’s stock.

Analyst Upgrades and Downgrades

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