Edgestream Partners L.P. Takes $1.50 Million Position in Plexus Corp. (NASDAQ:PLXS)

Edgestream Partners L.P. purchased a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,607 shares of the technology company's stock, valued at approximately $1,503,000.

Several other large investors also recently made changes to their positions in PLXS. Disciplined Growth Investors Inc. MN increased its position in Plexus by 2.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company's stock valued at $296,457,000 after acquiring an additional 59,465 shares during the period. Pacer Advisors Inc. bought a new position in shares of Plexus in the fourth quarter valued at $107,489,000. Geode Capital Management LLC lifted its holdings in shares of Plexus by 0.8% during the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company's stock valued at $89,392,000 after purchasing an additional 4,926 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Plexus by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company's stock worth $57,678,000 after buying an additional 2,886 shares during the period. Finally, Victory Capital Management Inc. grew its position in Plexus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company's stock worth $27,367,000 after purchasing an additional 7,483 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Stock Up 3.1 %

Shares of PLXS traded up $3.70 during trading hours on Friday, hitting $124.21. 198,232 shares of the company were exchanged, compared to its average volume of 148,574. The firm's 50 day moving average is $144.20 and its 200-day moving average is $145.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $172.89. The company has a market cap of $3.36 billion, a PE ratio of 28.82 and a beta of 0.90.

Remove Ads

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. On average, equities research analysts forecast that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Plexus from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Benchmark reissued a "buy" rating and set a $165.00 target price on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their target price on Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus initiated coverage on Plexus in a research note on Tuesday, February 4th. They set a "hold" rating and a $152.00 price target for the company. Two investment 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, Plexus presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.00.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.96, for a total transaction of $205,440.00. Following the sale, the chief executive officer now directly owns 86,932 shares of the company's stock, valued at $11,906,206.72. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Running sold 1,250 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the transaction, the insider now owns 1,276 shares of the company's stock, valued at $176,879.12. The trade was a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,458 shares of company stock valued at $2,786,515. 1.76% of the stock is owned by company insiders.

Plexus Company 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.