Point72 Asia Singapore Pte. Ltd. Buys New Stake in Plexus Corp. (NASDAQ:PLXS)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 405 shares of the technology company’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC lifted its position in shares of Plexus by 40.0% during the 1st quarter. Tidal Investments LLC now owns 3,364 shares of the technology company’s stock worth $319,000 after purchasing an additional 961 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Plexus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $383,000 after buying an additional 152 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Plexus by 142.5% in the second quarter. SG Americas Securities LLC now owns 6,471 shares of the technology company’s stock valued at $668,000 after acquiring an additional 3,802 shares during the period. Farrow Financial Inc. grew its stake in shares of Plexus by 0.8% in the second quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company’s stock worth $2,222,000 after acquiring an additional 167 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Plexus during the second quarter worth $3,303,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Performance

NASDAQ:PLXS opened at $165.60 on Friday. The firm has a market capitalization of $4.49 billion, a PE ratio of 41.30 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $169.56. The firm has a 50-day moving average price of $149.70 and a 200 day moving average price of $128.11.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Victor (Pang Hau) Tan sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $165.90, for a total transaction of $497,700.00. Following the sale, the insider now directly owns 5,605 shares in the company, valued at $929,869.50. This represents a 34.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction on Monday, October 28th. The shares were sold at an average price of $143.13, for a total value of $722,090.85. Following the completion of the transaction, the chief financial officer now owns 24,602 shares of the company’s stock, valued at approximately $3,521,284.26. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,591 shares of company stock worth $5,143,375 over the last three months. 2.39% of the stock is currently owned by corporate insiders.

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.