Dimensional Fund Advisors LP Lowers Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Dimensional Fund Advisors LP cut its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,545,061 shares of the technology company's stock after selling 89,788 shares during the period. Dimensional Fund Advisors LP owned approximately 5.71% of Plexus worth $241,773,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp bought a new position in Plexus in the third quarter worth approximately $332,000. Barclays PLC increased its stake in shares of Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock worth $6,669,000 after purchasing an additional 28,406 shares in the last quarter. Tidal Investments LLC boosted its holdings in Plexus by 102.7% in the 3rd quarter. Tidal Investments LLC now owns 5,723 shares of the technology company's stock worth $782,000 after buying an additional 2,899 shares during the period. GAMMA Investing LLC increased its stake in Plexus by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company's stock worth $139,000 after buying an additional 131 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in Plexus by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,789 shares of the technology company's stock valued at $593,000 after acquiring an additional 289 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Plexus

In related news, insider Michael J. Running sold 1,250 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the sale, the insider now owns 1,276 shares in the company, valued at $176,879.12. This represents a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 3,361 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $144.57, for a total transaction of $485,899.77. Following the completion of the sale, the chief financial officer now owns 20,745 shares in the company, valued at $2,999,104.65. The trade was a 13.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,958 shares of company stock valued at $2,551,930. Corporate insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PLXS shares. Benchmark dropped their price target on Plexus from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday. Stifel Nicolaus set a $145.00 price objective on Plexus in a research report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and set a $162.00 price target (down previously from $172.00) on shares of Plexus in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $155.67.

Plexus Trading Up 1.2 %

Shares of NASDAQ PLXS traded up $1.45 during trading hours on Friday, hitting $126.80. 142,114 shares of the company traded hands, compared to its average volume of 166,664. The company's 50 day moving average price is $125.98 and its 200 day moving average price is $144.19. Plexus Corp. has a 12 month low of $94.94 and a 12 month high of $172.89. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 29.42 and a beta of 0.83. 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 (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, equities research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

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.