Plexus Corp. (NASDAQ:PLXS) Position Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in Plexus Corp. (NASDAQ:PLXS) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,950 shares of the technology company’s stock after purchasing an additional 684 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Plexus worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Qube Research & Technologies Ltd increased its stake in Plexus by 93.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 22,691 shares of the technology company’s stock valued at $2,110,000 after buying an additional 10,975 shares during the period. Avior Wealth Management LLC boosted its position in Plexus by 115.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,118 shares of the technology company’s stock valued at $229,000 after purchasing an additional 1,134 shares during the last quarter. Vanguard Group Inc. grew its stake in Plexus by 1.4% in the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock valued at $321,147,000 after purchasing an additional 47,762 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Plexus in the 3rd quarter worth about $715,000. Finally, First Eagle Investment Management LLC purchased a new stake in shares of Plexus during the 3rd quarter worth about $5,865,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 26th. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Benchmark reissued a “buy” rating and set a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th. Finally, Needham & Company LLC boosted their price target on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.75.

Insider Activity at Plexus

In other news, insider Steven J. Frisch sold 700 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $108.19, for a total transaction of $75,733.00. Following the transaction, the insider now owns 56,113 shares in the company, valued at approximately $6,070,865.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Plexus news, insider Steven J. Frisch sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $108.19, for a total value of $75,733.00. Following the completion of the sale, the insider now owns 56,113 shares in the company, valued at approximately $6,070,865.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the sale, the chief executive officer now owns 121,310 shares in the company, valued at $11,403,140. The disclosure for this sale can be found here. Insiders sold a total of 33,228 shares of company stock worth $3,316,955 in the last ninety days. 2.39% of the stock is currently owned by insiders.

Plexus Stock Up 0.6 %

Plexus stock opened at $107.04 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. Plexus Corp. has a fifty-two week low of $85.35 and a fifty-two week high of $114.06. The firm has a fifty day moving average price of $96.04 and a two-hundred day moving average price of $99.02. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 29.57 and a beta of 1.00.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. The business had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The firm’s revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. As a group, analysts forecast that Plexus Corp. will post 3.61 earnings per share 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.