Harvest Fund Management Co. Ltd Grows Stock Position in Plexus Corp. (NASDAQ:PLXS)

Harvest Fund Management Co. Ltd grew its position in Plexus Corp. (NASDAQ:PLXS) by 281.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,870 shares of the technology company’s stock after acquiring an additional 8,022 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Plexus were worth $1,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PLXS. Pacer Advisors Inc. purchased a new position in shares of Plexus in the fourth quarter valued at approximately $107,489,000. Raymond James Financial Inc. purchased a new position in Plexus during the fourth quarter worth approximately $15,892,000. Disciplined Growth Investors Inc. MN lifted its position in Plexus by 2.8% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock worth $296,457,000 after buying an additional 59,465 shares in the last quarter. Algert Global LLC lifted its position in Plexus by 1,546.5% during the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock worth $6,260,000 after buying an additional 43,009 shares in the last quarter. Finally, Barclays PLC lifted its position in Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after buying an additional 28,406 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of Plexus stock opened at $127.26 on Thursday. Plexus Corp. has a 52 week low of $90.24 and a 52 week high of $172.89. The business’s fifty day simple moving average is $141.43 and its 200-day simple moving average is $145.50. The firm has a market cap of $3.44 billion, a PE ratio of 29.53 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Equities analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 4,337 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total value of $616,851.51. Following the sale, the chief executive officer now owns 80,595 shares in the company, valued at approximately $11,463,026.85. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the sale, the chief accounting officer now owns 29,501 shares in the company, valued at $4,281,775.14. This represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,458 shares of company stock worth $2,786,515. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Stifel Nicolaus assumed coverage on Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Two 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

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.