Comerica Bank Has $1.55 Million Stake in Plexus Corp. (NASDAQ:PLXS)

Comerica Bank lowered its holdings in Plexus Corp. (NASDAQ:PLXS) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,879 shares of the technology company’s stock after selling 227 shares during the quarter. Comerica Bank’s holdings in Plexus were worth $1,546,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in Plexus during the 4th quarter worth about $107,489,000. Barclays PLC lifted its position in shares of Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after purchasing an additional 28,406 shares in the last quarter. KBC Group NV grew its stake in shares of Plexus by 59.9% during the fourth quarter. KBC Group NV now owns 1,180 shares of the technology company’s stock valued at $185,000 after purchasing an additional 442 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Plexus in the fourth quarter valued at approximately $783,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Plexus by 17.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,779 shares of the technology company’s stock worth $278,000 after purchasing an additional 261 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PLXS shares. Needham & Company LLC reissued a “buy” rating and issued a $162.00 target price (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research report on Thursday, April 24th. Finally, Benchmark reduced their target price on shares of Plexus from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.67.

Insider Buying and Selling

In related news, Director Randy J. Martinez sold 887 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $140.52, for a total value of $124,641.24. Following the completion of the transaction, the director now directly owns 4,831 shares in the company, valued at approximately $678,852.12. The trade was a 15.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Running sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the sale, the insider now owns 1,276 shares in the company, valued at $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,337 shares of company stock valued at $746,924. 1.76% of the stock is owned by company insiders.

Plexus Price Performance

Shares of PLXS opened at $126.14 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.41 billion, a P/E ratio of 29.27 and a beta of 0.80. The stock’s 50-day moving average price is $124.03 and its two-hundred day moving average price is $143.42. Plexus Corp. has a 1 year low of $100.96 and a 1 year high of $172.89.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.12. The firm had revenue of $980.17 million during the quarter, compared to analysts’ expectations of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, equities analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Plexus Company Profile

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.