Geode Capital Management LLC Sells 6,552 Shares of Plexus Corp. (NASDAQ:PLXS)

Geode Capital Management LLC lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 647,207 shares of the technology company's stock after selling 6,552 shares during the quarter. Geode Capital Management LLC owned 2.39% of Plexus worth $101,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. TD Private Client Wealth LLC acquired a new stake in shares of Plexus during the fourth quarter worth approximately $28,000. Quarry LP boosted its stake in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company's stock valued at $31,000 after acquiring an additional 195 shares during the last quarter. R Squared Ltd acquired a new position in Plexus during the 4th quarter worth $45,000. Nomura Asset Management Co. Ltd. increased its position in shares of Plexus by 45.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Plexus in the 4th quarter valued at about $56,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $136.96, for a total value of $205,440.00. Following the transaction, the chief executive officer now owns 86,932 shares in the company, valued at approximately $11,906,206.72. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,958 shares of company stock worth $2,551,930 in the last 90 days. Company insiders own 1.76% of the company's stock.

Plexus Price Performance

Shares of NASDAQ PLXS traded up $0.73 during trading on Tuesday, hitting $122.01. The company had a trading volume of 16,656 shares, compared to its average volume of 163,431. Plexus Corp. has a 52 week low of $92.72 and a 52 week high of $172.89. The company has a market cap of $3.30 billion, a P/E ratio of 28.21 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The business's 50-day moving average is $128.71 and its 200 day moving average is $144.98.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 EPS 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%. Equities research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark restated a "buy" rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Stifel Nicolaus assumed coverage on Plexus in a report on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price objective for the company. Finally, Needham & Company LLC upped their price target on shares of Plexus from $162.00 to $172.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.00.

About Plexus

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.