Vanguard Group Inc. Reduces Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Vanguard Group Inc. cut its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,647,499 shares of the technology company's stock after selling 21,948 shares during the quarter. Vanguard Group Inc. owned about 13.49% of Plexus worth $570,761,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC purchased a new stake in Plexus during the 4th quarter valued at about $28,000. Quarry LP boosted its position in Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company's stock valued at $31,000 after buying an additional 195 shares during the last quarter. R Squared Ltd acquired a new position in Plexus in the 4th quarter worth approximately $45,000. Point72 DIFC Ltd purchased a new position in Plexus during the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus during the 3rd quarter worth approximately $55,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Frank Zycinski sold 1,200 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $140.84, for a total value of $169,008.00. Following the completion of the transaction, the insider now directly owns 723 shares of the company's stock, valued at approximately $101,827.32. This represents a 62.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction 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 sale, the insider now directly owns 1,276 shares in the company, valued at approximately $176,879.12. This trade represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,958 shares of company stock worth $2,551,930. Company insiders own 1.76% of the company's stock.

Plexus Stock Performance

Shares of PLXS traded down $3.79 during trading hours on Friday, hitting $112.24. The stock had a trading volume of 280,300 shares, compared to its average volume of 160,197. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 26.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The firm has a 50-day moving average price of $132.60 and a 200 day moving average price of $145.79. Plexus Corp. has a fifty-two week low of $92.72 and a fifty-two week high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its 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 anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.