Westfield Capital Management Co. LP Decreases Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Westfield Capital Management Co. LP lowered its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 94.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,200 shares of the technology company's stock after selling 81,439 shares during the quarter. Westfield Capital Management Co. LP's holdings in Plexus were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PLXS. Louisiana State Employees Retirement System increased its stake in shares of Plexus by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company's stock worth $1,424,000 after purchasing an additional 100 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Plexus by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company's stock valued at $766,000 after buying an additional 137 shares in the last quarter. QRG Capital Management Inc. grew its stake in Plexus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company's stock valued at $383,000 after buying an additional 152 shares in the last quarter. Farrow Financial Inc. grew its stake in Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company's stock valued at $2,966,000 after buying an additional 155 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company's stock valued at $797,000 after buying an additional 170 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Transactions at Plexus

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the sale, the chief operating officer now directly owns 19,585 shares of the company's stock, valued at $3,271,870.10. The trade was a 22.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares of the company's stock, valued at $1,097,137.50. This represents a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,091 shares of company stock valued at $5,334,885. Insiders own 2.39% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Plexus from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Needham & Company LLC lifted their price objective on shares of Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Benchmark raised their price target on shares of Plexus from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, October 28th. Finally, KeyCorp started coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a "sector weight" rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $133.50.

Plexus Price Performance

NASDAQ:PLXS traded up $3.15 during trading hours on Tuesday, hitting $164.54. The stock had a trading volume of 201,802 shares, compared to its average volume of 135,171. The company has a 50 day simple moving average of $143.70 and a two-hundred day simple moving average of $124.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. Plexus Corp. has a one year low of $90.18 and a one year high of $169.41. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 41.05 and a beta of 0.87.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $1.44 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Plexus Corp. will post 6.14 earnings per share for the current fiscal 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.