Edgestream Partners L.P. Purchases New Stake in Plexus Corp. (NASDAQ:PLXS)

Edgestream Partners L.P. purchased a new position in Plexus Corp. (NASDAQ:PLXS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 41,485 shares of the technology company’s stock, valued at approximately $3,934,000. Edgestream Partners L.P. owned about 0.15% of Plexus as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in shares of Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after acquiring an additional 146 shares during the period. GAMMA Investing LLC bought a new stake in shares of Plexus in the 4th quarter worth $44,000. Cetera Trust Company N.A purchased a new position in shares of Plexus in the fourth quarter worth $54,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Plexus during the fourth quarter valued at $66,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Plexus by 86,050.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,723 shares of the technology company’s stock valued at $186,000 after buying an additional 1,721 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Plexus

In other news, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the sale, the chief executive officer now owns 96,682 shares in the company, valued at $11,118,430. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick John Jermain sold 4,999 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $110.00, for a total value of $549,890.00. Following the transaction, the chief financial officer now owns 34,183 shares of the company’s stock, valued at approximately $3,760,130. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,386 shares of company stock worth $3,749,884. 2.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on PLXS shares. Stifel Nicolaus upped their target price on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Needham & Company LLC increased their price objective on shares of Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Benchmark lifted their target price on shares of Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $110.25.

Plexus Stock Performance

NASDAQ PLXS traded up $3.04 on Monday, hitting $118.37. 137,273 shares of the company traded hands, compared to its average volume of 122,924. The business’s 50 day moving average price is $107.54 and its 200-day moving average price is $100.69. Plexus Corp. has a 52-week low of $87.21 and a 52-week high of $120.26. The company has a current ratio of 1.51, a quick ratio of 0.64 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 32.70 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. The firm had revenue of $966.90 million for the quarter, compared to the consensus estimate of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. Equities analysts expect that Plexus Corp. will post 3.67 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.