First Eagle Investment Management LLC Has $3.17 Million Stake in Plexus Corp. (NASDAQ:PLXS)

First Eagle Investment Management LLC trimmed its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 44.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,262 shares of the technology company's stock after selling 16,450 shares during the period. First Eagle Investment Management LLC owned about 0.07% of Plexus worth $3,171,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Plexus in the 4th quarter valued at $1,380,000. HighTower Advisors LLC boosted its position in Plexus by 10.3% in the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the technology company's stock valued at $466,000 after buying an additional 278 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Plexus by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,140 shares of the technology company's stock worth $1,117,000 after purchasing an additional 1,284 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Plexus in the 4th quarter worth $2,140,000. Finally, AlphaQuest LLC bought a new position in shares of Plexus in the 4th quarter worth $1,516,000. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Michael J. Running sold 1,250 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the completion of the sale, the insider now owns 1,276 shares in the company, valued at $176,879.12. The trade was a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the sale, the chief executive officer now owns 74,271 shares of the company's stock, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,458 shares of company stock worth $2,786,515. Company insiders own 1.76% of the company's stock.

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Analysts Set New Price Targets

PLXS has been the topic of several recent research reports. Needham & Company LLC raised their price target on Plexus from $162.00 to $172.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. 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, Stifel Nicolaus initiated coverage on Plexus in a research report on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price target on the stock. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $163.00.

Plexus Trading Up 1.4 %

Plexus stock traded up $1.83 during mid-day trading on Thursday, hitting $129.09. 233,945 shares of the company's stock were exchanged, compared to its average volume of 148,912. Plexus Corp. has a fifty-two week low of $90.24 and a fifty-two week 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 $3.49 billion, a P/E ratio of 29.95 and a beta of 0.90. The company's 50 day simple moving average is $141.43 and its 200-day simple moving average is $145.50.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results 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%. On average, equities analysts anticipate that Plexus Corp. will post 5.9 earnings per share 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.