Plexus Corp. $PLXS Stock Purchased by Summit Creek Advisors LLC

Summit Creek Advisors LLC grew its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 292.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,273 shares of the technology company’s stock after buying an additional 14,356 shares during the quarter. Plexus makes up 2.0% of Summit Creek Advisors LLC’s portfolio, making the stock its 25th largest position. Summit Creek Advisors LLC’s holdings in Plexus were worth $5,029,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Trust Point Inc. grew its holdings in shares of Plexus by 5.5% in the 2nd quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock valued at $393,000 after acquiring an additional 68 shares in the last quarter. Smith Group Asset Management LLC increased its position in shares of Plexus by 1.6% in the third quarter. Smith Group Asset Management LLC now owns 4,536 shares of the technology company’s stock valued at $1,184,000 after acquiring an additional 73 shares during the last quarter. Signaturefd LLC increased its position in shares of Plexus by 6.1% in the third quarter. Signaturefd LLC now owns 1,765 shares of the technology company’s stock valued at $461,000 after acquiring an additional 101 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Plexus by 6.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,858 shares of the technology company’s stock worth $376,000 after acquiring an additional 105 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Plexus during the second quarter worth about $32,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Trading Up 2.4%

Shares of NASDAQ:PLXS opened at $192.17 on Friday. Plexus Corp. has a 52-week low of $132.03 and a 52-week high of $307.06. The company has a market capitalization of $5.14 billion, a P/E ratio of 25.90 and a beta of 0.97. The company has a 50-day simple moving average of $242.84 and a 200 day simple moving average of $240.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 1.43.

Plexus (NASDAQ:PLXS) last posted its quarterly 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. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Plexus had a return on equity of 13.34% and a net margin of 4.08%. Plexus’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company posted $2.14 earnings per share. Sell-side analysts forecast that Plexus Corp. will post 9.02 earnings per share for the current year.

Insider Activity

In other news, CEO Todd Kelsey sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $239.16, for a total value of $358,740.00. Following the completion of the sale, the chief executive officer directly owned 62,888 shares of the company’s stock, valued at $15,040,294.08. This trade represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of Plexus stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total value of $1,100,000.00. Following the transaction, the director owned 40,329 shares of the company’s stock, valued at $11,090,475. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,000 shares of company stock valued at $2,319,260 over the last three months. Insiders own 1.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of analyst reports. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective on the stock in a research note on Monday, September 21st. Needham & Company LLC reissued a “buy” rating and issued a $310.00 target price on shares of Plexus in a research note on Friday, August 14th. Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Plexus has an average rating of “Buy” and an average target price of $276.86.

About Plexus

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.