Nicola Wealth Management LTD. Makes New $6.66 Million Investment in Plexus Corp. $PLXS

Nicola Wealth Management LTD. bought a new stake in shares of Plexus Corp. (NASDAQ:PLXS) during the third quarter, Holdings Channel.com reports. The fund bought 46,000 shares of the technology company’s stock, valued at approximately $6,655,000.

A number of other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in Plexus by 12.9% in the second quarter. American Century Companies Inc. now owns 765,773 shares of the technology company’s stock worth $103,617,000 after buying an additional 87,551 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Plexus by 37.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 242,726 shares of the technology company’s stock worth $32,843,000 after purchasing an additional 65,644 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Plexus by 53.6% during the 2nd quarter. Bank of America Corp DE now owns 177,237 shares of the technology company’s stock valued at $23,982,000 after acquiring an additional 61,817 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Plexus by 73.3% in the second quarter. Cubist Systematic Strategies LLC now owns 109,943 shares of the technology company’s stock worth $14,876,000 after acquiring an additional 46,513 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Plexus by 23.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 240,192 shares of the technology company’s stock worth $34,753,000 after acquiring an additional 45,425 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $143.50, for a total value of $287,000.00. Following the transaction, the chief executive officer directly owned 60,714 shares in the company, valued at approximately $8,712,459. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,347 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $144.93, for a total transaction of $195,220.71. Following the transaction, the chief accounting officer directly owned 21,544 shares of the company’s stock, valued at approximately $3,122,371.92. This trade represents a 5.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,674 shares of company stock valued at $1,382,876. 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. Weiss Ratings restated a “hold (c+)” rating on shares of Plexus in a research note on Thursday. Stifel Nicolaus set a $150.00 target price on shares of Plexus in a report on Friday, October 24th. Wall Street Zen cut shares of Plexus from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $150.00 price target on the stock. in a report on Friday, October 24th. Finally, Needham & Company LLC upped their price objective on Plexus from $158.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $159.00.

Plexus Stock Performance

Shares of PLXS stock opened at $175.89 on Tuesday. The business has a 50-day simple moving average of $155.89 and a 200-day simple moving average of $144.51. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 52-week low of $103.43 and a 52-week high of $186.47. The stock has a market cap of $4.71 billion, a PE ratio of 28.10 and a beta of 0.81.

Plexus Company Profile

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.