Resona Asset Management Co. Ltd. Invests $773,000 in Plexus Corp. (NASDAQ:PLXS)

Resona Asset Management Co. Ltd. acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,937 shares of the technology company's stock, valued at approximately $773,000.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in Plexus during the fourth quarter valued at about $107,489,000. American Century Companies Inc. increased its position in Plexus by 72.2% in the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock worth $85,128,000 after buying an additional 228,027 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Plexus by 146.9% during the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock worth $40,501,000 after buying an additional 154,003 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Plexus by 1,875.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock valued at $21,511,000 after acquiring an additional 130,506 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Plexus in the fourth quarter worth $15,892,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.96, for a total transaction of $205,440.00. Following the sale, the chief executive officer now owns 86,932 shares of the company's stock, valued at $11,906,206.72. This represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $169,008.00. Following the sale, the insider now directly owns 723 shares in the company, valued at $101,827.32. This trade represents a 62.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,958 shares of company stock valued at $2,551,930 in the last three months. Corporate insiders own 1.76% of the company's stock.

Plexus Price Performance

PLXS traded down $1.00 during midday trading on Wednesday, reaching $121.18. 15,271 shares of the company's stock were exchanged, compared to its average volume of 163,832. 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 business has a 50-day simple moving average of $128.31 and a two-hundred day simple moving average of $144.82. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 28.15 and a beta of 0.83. Plexus Corp. has a one year low of $92.72 and a one year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last released 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 net margin of 3.03% and a return on equity of 10.36%. As a group, research analysts predict 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.