USA Financial Formulas Buys Shares of 359 Plexus Corp. (NASDAQ:PLXS)

USA Financial Formulas purchased a new position in Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 359 shares of the technology company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in Plexus by 204.3% in the second quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock worth $16,306,000 after acquiring an additional 106,103 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of 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 acquiring an additional 59,465 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Plexus by 158.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after acquiring an additional 50,564 shares during the period. Algert Global LLC lifted its position in Plexus by 1,546.5% in the 3rd quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after purchasing an additional 43,009 shares during the last quarter. Finally, Barclays PLC grew its position in Plexus by 139.4% in the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after purchasing an additional 28,406 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLXS shares. Needham & Company LLC boosted their price objective on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Stifel Nicolaus raised their target price on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, Benchmark increased their price objective on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

Plexus Price Performance

NASDAQ:PLXS opened at $164.94 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $161.71 and its 200 day moving average price is $139.17. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $170.07. The firm has a market cap of $4.47 billion, a P/E ratio of 41.13 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares in the company, valued at $5,093,223.37. This trade represents a 8.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the sale, the chief executive officer now owns 74,271 shares in the company, valued at approximately $11,615,241.69. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,091 shares of company stock valued at $5,377,960. Corporate insiders own 1.76% of the company’s stock.

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.