Silvercrest Asset Management Group LLC Raises Stake in Plexus Corp. (NASDAQ:PLXS)

Silvercrest Asset Management Group LLC increased its stake in Plexus Corp. (NASDAQ:PLXS) by 9.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,096,872 shares of the technology company’s stock after buying an additional 93,985 shares during the quarter. Silvercrest Asset Management Group LLC owned 3.75% of Plexus worth $64,025,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PLXS. Scout Investments Inc. boosted its holdings in shares of Plexus by 212.1% in the 2nd quarter. Scout Investments Inc. now owns 104,910 shares of the technology company’s stock worth $6,124,000 after buying an additional 71,296 shares during the last quarter. Northern Trust Corp lifted its holdings in Plexus by 5.0% during the second quarter. Northern Trust Corp now owns 1,020,151 shares of the technology company’s stock valued at $59,546,000 after purchasing an additional 48,925 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in Plexus by 25.9% during the first quarter. State of Wisconsin Investment Board now owns 189,490 shares of the technology company’s stock valued at $11,549,000 after purchasing an additional 39,000 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Plexus by 15.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 240,108 shares of the technology company’s stock valued at $14,015,000 after purchasing an additional 32,409 shares during the last quarter. Finally, Carillon Tower Advisers Inc. lifted its holdings in Plexus by 92.8% during the second quarter. Carillon Tower Advisers Inc. now owns 63,004 shares of the technology company’s stock valued at $3,678,000 after purchasing an additional 30,325 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors.

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 1,119 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $59.85, for a total transaction of $66,972.15. Following the sale, the chief accounting officer now directly owns 31,280 shares in the company, valued at $1,872,108. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $59.35, for a total value of $59,350.00. Following the sale, the chief executive officer now owns 77,855 shares in the company, valued at $4,620,694.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,980 shares of company stock worth $1,737,525. Company insiders own 3.90% of the company’s stock.



PLXS has been the topic of several recent research reports. BidaskClub downgraded shares of Plexus from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th. Sidoti set a $72.00 price objective on shares of Plexus and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Zacks Investment Research raised shares of Plexus from a “sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a report on Monday, September 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Plexus currently has a consensus rating of “Buy” and an average price target of $68.00.

NASDAQ PLXS traded up $0.25 during trading on Tuesday, hitting $63.61. 2,805 shares of the company’s stock traded hands, compared to its average volume of 113,367. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 19.62 and a beta of 0.97. Plexus Corp. has a 12-month low of $47.63 and a 12-month high of $66.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.91 and a current ratio of 1.78. The business has a 50 day moving average of $58.65 and a 200-day moving average of $58.57.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 17th. The technology company reported $0.81 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Plexus had a return on equity of 12.40% and a net margin of 4.62%. The firm had revenue of $799.64 million for the quarter, compared to analysts’ expectations of $783.30 million. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, analysts expect that Plexus Corp. will post 3.37 EPS for the current year.

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. 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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