Proficio Capital Partners LLC Takes Position in Plexus Corp. (NASDAQ:PLXS)

Proficio Capital Partners LLC purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,553 shares of the technology company's stock, valued at approximately $2,277,000. Proficio Capital Partners LLC owned approximately 0.05% of Plexus as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLXS. Quarry LP boosted its position in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company's stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. R Squared Ltd bought a new stake in Plexus in the fourth quarter worth $45,000. Point72 DIFC Ltd bought a new stake in Plexus in the third quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Plexus in the third quarter worth $55,000. Finally, USA Financial Formulas bought a new stake in Plexus in the fourth quarter worth $56,000. 94.45% of the stock is currently owned by institutional investors.

Insider Transactions at Plexus

In related 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 transaction of $616,851.51. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Zycinski sold 1,200 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $140.84, for a total value of $169,008.00. Following the transaction, the insider now directly owns 723 shares of the company's stock, valued at approximately $101,827.32. The trade was a 62.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,458 shares of company stock valued at $2,786,515 over the last 90 days. Company insiders own 1.76% of the company's stock.

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Analysts Set New Price Targets

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

Plexus Stock Performance

Plexus stock traded down $0.88 during mid-day trading on Friday, reaching $128.21. 743,463 shares of the stock traded hands, compared to its average volume of 151,233. The stock has a market capitalization of $3.47 billion, a PE ratio of 29.75 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. Plexus Corp. has a 12-month low of $90.87 and a 12-month high of $172.89. The business's 50-day moving average is $140.08 and its 200-day moving average is $145.39.

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 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 EPS for the current fiscal 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.