Summit Global Investments Takes Position in Plexus Corp. (NASDAQ:PLXS)

Summit Global Investments acquired a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,031 shares of the technology company's stock, valued at approximately $631,000.

Several other hedge funds also recently added to or reduced their stakes in PLXS. TD Private Client Wealth LLC acquired a new position in shares of Plexus in the 4th quarter valued at $28,000. Quarry LP increased 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 acquiring an additional 195 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Plexus in the 4th quarter valued at approximately $45,000. Point72 DIFC Ltd acquired a new position in shares of Plexus in the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Plexus during the 3rd quarter worth approximately $55,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Insider Activity

In other news, CEO Todd P. Kelsey sold 4,337 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the sale, the chief executive officer now owns 80,595 shares in the company, valued at approximately $11,463,026.85. The trade was a 5.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randy J. Martinez sold 887 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $140.52, for a total transaction of $124,641.24. Following the completion of the transaction, the director now directly owns 4,831 shares in the company, valued at $678,852.12. This trade represents a 15.51 % 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. 1.76% of the stock is currently owned by corporate insiders.

Plexus Stock Down 0.2 %

Shares of NASDAQ PLXS traded down $0.25 during mid-day trading on Thursday, hitting $129.99. The company had a trading volume of 137,563 shares, compared to its average volume of 152,209. The company has a market capitalization of $3.51 billion, a PE ratio of 30.16 and a beta of 0.90. The business's 50-day simple moving average is $138.09 and its 200 day simple moving average is $145.76. Plexus Corp. has a 1-year low of $91.62 and a 1-year high of $172.89. 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 (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Plexus 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.