10,500 Shares in Plexus Corp. $PLXS Acquired by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,500 shares of the technology company’s stock, valued at approximately $2,740,000.

Several other hedge funds also recently made changes to their positions in PLXS. BlackRock Inc. purchased a new stake in Plexus in the second quarter worth $1,311,631,000. Congress Asset Management Co. increased its stake in shares of Plexus by 204.0% in the 3rd quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company’s stock worth $82,303,000 after acquiring an additional 211,663 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Plexus in the 2nd quarter worth about $60,281,000. Bank of New York Mellon Corp bought a new position in shares of Plexus in the 2nd quarter worth about $55,525,000. Finally, Principal Financial Group Inc. increased its stake in shares of Plexus by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 153,392 shares of the technology company’s stock worth $31,068,000 after acquiring an additional 3,477 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Trading Up 3.3%

Plexus stock opened at $211.92 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $240.91 and its two-hundred day simple moving average is $240.51. Plexus Corp. has a 12 month low of $132.03 and a 12 month high of $307.06. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 28.56 and a beta of 0.97.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, October 28th. The technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29. Plexus had a return on equity of 13.34% and a net margin of 4.08%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm posted $2.14 earnings per share. The company’s quarterly revenue was up 34.9% on a year-over-year basis. As a group, equities analysts predict that Plexus Corp. will post 9.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLXS. Zacks Research raised shares of Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Needham & Company LLC restated a “buy” rating and issued a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price for the company in a research note on Friday, July 31st. Wall Street Zen raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. Finally, Fox Advisors upgraded shares of Plexus from an “equal weight” rating to an “overweight” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $276.86.

Insider Activity

In related news, Director Karen Rapp sold 500 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $240.87, for a total value of $120,435.00. Following the transaction, the director owned 7,535 shares in the company, valued at $1,814,955.45. The trade was a 6.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total transaction of $376,470.00. Following the completion of the transaction, the chief executive officer owned 65,888 shares in the company, valued at approximately $16,536,570.24. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,000 shares of company stock valued at $1,219,260. 1.78% of the stock is owned by insiders.

Plexus Company Profile

Plexus Corp. is a provider of electronics manufacturing services and product realization solutions for companies that develop complex products. Its services span product design and development, engineering, manufacturing, supply chain management, fulfillment, and aftermarket support. The company serves customers in markets including healthcare and life sciences, industrial, and aerospace and defense. Its work supports products that may require specialized engineering, quality controls, and production processes.