Pacer Advisors Inc. Purchases New Holdings in Plexus Corp. (NASDAQ:PLXS)

Pacer Advisors Inc. purchased a new position in Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 686,916 shares of the technology company's stock, valued at approximately $107,489,000. Pacer Advisors Inc. owned 2.54% of Plexus at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company's stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Plexus during the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus during the third quarter valued at approximately $55,000. USA Financial Formulas bought a new position in Plexus in the fourth quarter worth approximately $56,000. Finally, Farther Finance Advisors LLC raised its stake in Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock worth $63,000 after buying an additional 219 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of analyst reports. StockNews.com upgraded Plexus from a "hold" rating to a "buy" rating in a report on Monday, November 18th. KeyCorp started coverage on Plexus in a research note on Tuesday, October 22nd. They issued a "sector weight" rating on the stock. Benchmark reissued a "buy" rating and set a $165.00 price target on shares of Plexus in a research report on Wednesday, January 22nd. Needham & Company LLC raised their price target on shares of Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a report on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of Plexus from $136.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.33.

Plexus Stock Performance

Plexus stock traded down $8.94 during trading hours on Monday, hitting $143.55. 270,877 shares of the stock traded hands, compared to its average volume of 180,661. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $172.89. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 33.31 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm's 50 day moving average price is $162.03 and its 200-day moving average price is $142.46.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.43% and a net margin of 3.03%. As a group, equities analysts expect that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael J. Running sold 579 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $153.93, for a total transaction of $89,125.47. Following the sale, the insider now owns 1,569 shares of the company's stock, valued at $241,516.17. This trade represents a 26.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of Plexus stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the transaction, the chief accounting officer now directly owns 35,323 shares of the company's stock, valued at approximately $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,046 shares of company stock valued at $4,655,870 over the last 90 days. Insiders own 1.76% of the company's stock.

Plexus 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.