Natixis Advisors LLC Trims Stock Position in Plexus Corp. (NASDAQ:PLXS)

Natixis Advisors LLC reduced its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 12.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,512 shares of the technology company's stock after selling 2,411 shares during the quarter. Natixis Advisors LLC owned about 0.06% of Plexus worth $2,584,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in shares of Plexus by 85.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company's stock valued at $91,000 after acquiring an additional 305 shares during the period. Intech Investment Management LLC purchased a new position in shares of Plexus in the third quarter worth about $755,000. Charles Schwab Investment Management Inc. boosted its position in Plexus by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company's stock valued at $57,678,000 after buying an additional 2,886 shares during the last quarter. Citigroup Inc. raised its position in Plexus by 65.9% during the 3rd quarter. Citigroup Inc. now owns 35,569 shares of the technology company's stock worth $4,863,000 after buying an additional 14,129 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Plexus by 41.2% during the 3rd quarter. Cerity Partners LLC now owns 8,602 shares of the technology company's stock valued at $1,176,000 after acquiring an additional 2,511 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several equities research analysts have commented on PLXS shares. Needham & Company LLC upped their price target on shares of Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a report on Friday, January 24th. Benchmark reaffirmed a "buy" rating and set a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Finally, Stifel Nicolaus started coverage on Plexus in a research report on Tuesday, February 4th. They set a "hold" rating and a $152.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $163.00.

Insider Buying and Selling

In other news, CEO Todd P. Kelsey sold 4,337 shares of Plexus 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 sale, the chief executive officer now directly owns 80,595 shares of the company's stock, valued at $11,463,026.85. The trade was a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Patrick John Jermain sold 3,361 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $144.57, for a total value of $485,899.77. Following the completion of the transaction, the chief financial officer now directly owns 20,745 shares of the company's stock, valued at approximately $2,999,104.65. This represents a 13.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,458 shares of company stock worth $2,786,515. Insiders own 1.76% of the company's stock.

Plexus Price Performance

PLXS stock traded down $0.25 during mid-day trading on Thursday, reaching $129.99. 137,563 shares of the company's stock were exchanged, compared to its average volume of 152,209. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. Plexus Corp. has a 12-month low of $91.62 and a 12-month high of $172.89. The stock's 50 day moving average is $138.09 and its 200 day moving average is $145.76. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 30.16 and a beta of 0.90.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly 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, research analysts expect that Plexus Corp. will post 5.9 EPS for the current year.

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.