Arrowstreet Capital Limited Partnership lifted its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 1,875.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,466 shares of the technology company's stock after buying an additional 130,506 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.51% of Plexus worth $21,511,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of PLXS. Pictet Asset Management Holding SA increased its stake in Plexus by 17.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,811 shares of the technology company's stock worth $596,000 after purchasing an additional 559 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Plexus during the 4th quarter worth approximately $339,000. Norges Bank acquired a new stake in Plexus during the 4th quarter worth approximately $14,246,000. Finally, JPMorgan Chase & Co. boosted its position in Plexus by 146.9% in the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after buying an additional 154,003 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.
Plexus Stock Down 1.7 %
Shares of PLXS stock traded down $1.87 on Tuesday, reaching $110.95. 265,214 shares of the stock were exchanged, compared to its average volume of 161,839. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 25.74 and a beta of 0.83. The business's 50 day moving average price is $130.66 and its 200 day moving average price is $145.39. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. Plexus Corp. has a twelve month low of $92.72 and a twelve month high of $172.89.
Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. As a group, sell-side analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on PLXS shares. Benchmark reaffirmed a "buy" rating and set a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Needham & Company LLC upped their price target on Plexus from $162.00 to $172.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Stifel Nicolaus started coverage on Plexus in a research note on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.00.
Check Out Our Latest Report on PLXS
Insider Buying and Selling at Plexus
In related news, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.96, for a total value of $205,440.00. Following the completion of the sale, the chief executive officer now directly owns 86,932 shares of the company's stock, valued at $11,906,206.72. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick John Jermain sold 3,361 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $144.57, for a total value of $485,899.77. Following the transaction, the chief financial officer now owns 20,745 shares in the company, valued at $2,999,104.65. This represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,958 shares of company stock worth $2,551,930 over the last three months. Insiders own 1.76% of the company's stock.
About Plexus
(
Free Report)
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.
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