UBS Asset Management Americas Inc. Raises Position in Plexus Corp. (NASDAQ:PLXS)


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UBS Asset Management Americas Inc. grew its position in Plexus Corp. (NASDAQ:PLXS) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,017 shares of the technology company’s stock after purchasing an additional 820 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Plexus were worth $2,504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in Plexus by 40.6% in the fourth quarter. Hsbc Holdings PLC now owns 8,272 shares of the technology company’s stock worth $646,000 after buying an additional 2,387 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Plexus by 57.5% in the fourth quarter. JPMorgan Chase & Co. now owns 76,983 shares of the technology company’s stock worth $6,021,000 after acquiring an additional 28,114 shares during the period. Truist Financial Corp bought a new stake in shares of Plexus in the fourth quarter worth approximately $222,000. SummerHaven Investment Management LLC bought a new stake in shares of Plexus in the fourth quarter worth approximately $481,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Plexus in the fourth quarter worth approximately $1,561,000. 94.15% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Todd P. Kelsey sold 4,443 shares of the business’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $82.78, for a total value of $367,791.54. Also, VP Ronnie Darroch sold 3,637 shares of the business’s stock in a transaction on Monday, January 25th. The stock was sold at an average price of $80.23, for a total transaction of $291,796.51. Following the completion of the transaction, the vice president now directly owns 13,531 shares in the company, valued at approximately $1,085,592.13. The disclosure for this sale can be found here. Insiders have sold 21,763 shares of company stock worth $1,823,824 in the last ninety days. Insiders own 2.38% of the company’s stock.

Shares of NASDAQ:PLXS opened at $89.92 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.77 and a quick ratio of 1.01. Plexus Corp. has a 1-year low of $54.31 and a 1-year high of $96.27. The company has a market capitalization of $2.59 billion, a P/E ratio of 22.94 and a beta of 1.18. The firm’s 50 day simple moving average is $90.88 and its two-hundred day simple moving average is $81.10.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Tuesday, April 20th. The technology company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.24. Plexus had a net margin of 3.47% and a return on equity of 13.10%. The business had revenue of $881.00 million for the quarter, compared to the consensus estimate of $879.88 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that Plexus Corp. will post 4.54 earnings per share for the current fiscal year.

A number of analysts have recently commented on PLXS shares. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $94.00 price target for the company. in a research note on Wednesday, March 31st. Needham & Company LLC boosted their target price on shares of Plexus from $77.00 to $89.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $84.17.

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

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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