Weiss Asset Management LP Purchases Shares of 18,872 Plexus Corp. (NASDAQ:PLXS)

Weiss Asset Management LP acquired a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,872 shares of the technology company's stock, valued at approximately $2,580,000. Weiss Asset Management LP owned approximately 0.07% of Plexus at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP grew its position in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company's stock worth $31,000 after acquiring an additional 195 shares during the last quarter. Quest Partners LLC grew its position in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company's stock worth $38,000 after acquiring an additional 367 shares during the last quarter. Innealta Capital LLC bought a new stake in Plexus during the 2nd quarter worth approximately $51,000. Point72 DIFC Ltd bought a new stake in Plexus during the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Plexus during the 3rd quarter worth approximately $55,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PLXS. KeyCorp began coverage on Plexus in a research report on Tuesday, October 22nd. They set a "sector weight" rating on the stock. StockNews.com upgraded Plexus from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Needham & Company LLC increased their price objective on Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Benchmark increased their price objective on Plexus from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $133.50.

Insider Activity

In related news, insider Michael J. Running sold 539 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the sale, the insider now owns 1,030 shares of the company's stock, valued at approximately $160,546.10. This trade represents a 34.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Oliver K. Mihm sold 5,691 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the sale, the chief operating officer now directly owns 19,585 shares in the company, valued at $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,591 shares of company stock valued at $5,143,375 in the last 90 days. 2.39% of the stock is owned by company insiders.

Plexus Trading Down 0.0 %

Shares of PLXS stock traded down $0.02 during trading hours on Friday, reaching $165.60. The company had a trading volume of 121,151 shares, compared to its average volume of 169,364. The company has a 50 day moving average of $149.70 and a 200 day moving average of $128.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 41.30 and a beta of 0.90. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $169.56.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. On average, equities research analysts anticipate that Plexus Corp. will post 6.14 EPS 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.