Legal & General Group Plc Sells 2,237 Shares of Plexus Corp. (NASDAQ:PLXS)

Legal & General Group Plc reduced its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,189 shares of the technology company's stock after selling 2,237 shares during the period. Legal & General Group Plc owned 0.29% of Plexus worth $12,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Polymer Capital Management US LLC bought a new position in Plexus during the 4th quarter valued at $223,000. Russell Investments Group Ltd. lifted its holdings in shares of Plexus by 4.0% in the fourth quarter. Russell Investments Group Ltd. now owns 31,106 shares of the technology company's stock valued at $4,867,000 after buying an additional 1,194 shares during the period. Envestnet Asset Management Inc. boosted its stake in Plexus by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 57,182 shares of the technology company's stock valued at $8,948,000 after buying an additional 459 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Plexus during the fourth quarter worth about $1,779,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in Plexus in the fourth quarter worth about $773,000. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction 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 sale, the chief executive officer now owns 86,932 shares of the company's stock, valued at approximately $11,906,206.72. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,958 shares of company stock valued at $2,551,930 in the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLXS has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on shares of Plexus in a research note on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price objective on the stock. Benchmark restated a "buy" rating and issued a $165.00 price target on shares of Plexus in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price objective on Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Plexus has a consensus rating of "Moderate Buy" and an average price target of $163.00.

Plexus Trading Up 2.6 %

Shares of PLXS stock traded up $3.09 during trading hours on Tuesday, reaching $124.11. 165,855 shares of the stock traded hands, compared to its average volume of 165,599. The business has a fifty day moving average price of $126.50 and a 200 day moving average price of $144.38. Plexus Corp. has a 1-year low of $94.29 and a 1-year high of $172.89. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.36 billion, a PE ratio of 28.80 and a beta of 0.83.

Plexus (NASDAQ:PLXS - Get Free Report) last released 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 forecast that Plexus Corp. will post 5.9 EPS for the current year.

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.