Harvest Fund Management Co. Ltd Has $1.70 Million Stock Position in Plexus Corp. (NASDAQ:PLXS)

Harvest Fund Management Co. Ltd raised its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 281.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,870 shares of the technology company's stock after buying an additional 8,022 shares during the period. Harvest Fund Management Co. Ltd's holdings in Plexus were worth $1,701,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Quarry LP lifted its position in shares of 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 purchased a new stake in shares of Plexus during the fourth quarter valued at $45,000. USA Financial Formulas acquired a new position in shares of Plexus in the 4th quarter valued at $56,000. Point72 DIFC Ltd purchased a new position in Plexus in the 3rd quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Plexus during the 3rd quarter worth about $55,000. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 3.6 %

NASDAQ:PLXS traded up $4.59 during mid-day trading on Monday, reaching $132.80. The stock had a trading volume of 199,120 shares, compared to its average volume of 151,633. The business's 50 day moving average is $140.08 and its 200 day moving average is $145.71. Plexus Corp. has a fifty-two week low of $90.87 and a fifty-two week high of $172.89. The stock has a market cap of $3.59 billion, a P/E ratio of 30.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70.

Remove Ads

Plexus (NASDAQ:PLXS - Get Free Report) last issued 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 net margin of 3.03% and a return on equity of 10.36%. As a group, sell-side analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 4,337 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total value of $616,851.51. Following the completion of the sale, the chief executive officer now directly owns 80,595 shares of the company's stock, valued at approximately $11,463,026.85. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randy J. Martinez sold 887 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $140.52, for a total transaction of $124,641.24. Following the transaction, the director now directly owns 4,831 shares in the company, valued at $678,852.12. This trade represents a 15.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,458 shares of company stock worth $2,786,515. 1.76% of the stock is owned by insiders.

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.