Victory Capital Management Inc. Has $39.53 Million Stake in Plexus Corp. (PLXS)

Victory Capital Management Inc. lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 675,667 shares of the technology company’s stock after selling 47,511 shares during the period. Victory Capital Management Inc. owned approximately 2.10% of Plexus worth $39,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in Plexus by 3.9% in the 2nd quarter. BlackRock Inc. now owns 4,511,927 shares of the technology company’s stock valued at $268,640,000 after purchasing an additional 167,870 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Plexus by 40.8% during the 2nd quarter. Cooke & Bieler LP now owns 376,560 shares of the technology company’s stock worth $22,420,000 after purchasing an additional 109,130 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Plexus during the 2nd quarter worth about $6,216,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Plexus by 34.9% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 248,754 shares of the technology company’s stock worth $14,811,000 after acquiring an additional 64,301 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Plexus by 17.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 309,368 shares of the technology company’s stock worth $18,101,000 after acquiring an additional 46,286 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

PLXS has been the topic of several research reports. BidaskClub lowered shares of Plexus from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. ValuEngine downgraded shares of Plexus from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Plexus in a report on Wednesday, November 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Plexus has a consensus rating of “Hold” and an average price target of $70.67.

In other Plexus news, Director Ralf R. Boer sold 2,500 shares of Plexus stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $60.50, for a total value of $151,250.00. Following the completion of the transaction, the director now directly owns 26,790 shares of the company’s stock, valued at approximately $1,620,795. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Dean A. Foate sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the transaction, the chairman now directly owns 282,640 shares of the company’s stock, valued at approximately $17,826,104.80. The disclosure for this sale can be found here. In the last three months, insiders sold 47,550 shares of company stock worth $2,862,507. 3.70% of the stock is owned by insiders.

Shares of NASDAQ PLXS traded up $1.13 during trading hours on Monday, reaching $62.17. The stock had a trading volume of 129,600 shares, compared to its average volume of 167,916. The company has a current ratio of 2.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. Plexus Corp. has a twelve month low of $52.44 and a twelve month high of $66.78. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 19.25 and a beta of 0.59.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $771.18 million for the quarter, compared to analysts’ expectations of $760.98 million. Plexus had a return on equity of 11.98% and a net margin of 0.45%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. On average, research analysts anticipate that Plexus Corp. will post 3.87 earnings per share for the current fiscal year.

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About Plexus

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.

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