Public Sector Pension Investment Board Reduces Stake in Plexus Corp. (NASDAQ:PLXS)

Public Sector Pension Investment Board reduced its position in Plexus Corp. (NASDAQ:PLXS) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,767 shares of the technology company’s stock after selling 2,500 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Plexus worth $7,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PLXS. Quest Partners LLC boosted its stake in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Plexus in the 2nd quarter worth $51,000. Farther Finance Advisors LLC raised its holdings in Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after purchasing an additional 219 shares during the period. Advisors Asset Management Inc. raised its holdings in Plexus by 85.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock worth $91,000 after purchasing an additional 305 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Plexus by 190.1% in the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after purchasing an additional 498 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of recent research reports. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Benchmark raised their target price on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Needham & Company LLC raised their target price on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Insider Activity

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Oliver K. Mihm sold 5,691 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total value of $950,738.46. Following the transaction, the chief operating officer now owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock worth $5,143,375 over the last 90 days. Corporate insiders own 2.39% of the company’s stock.

Plexus Price Performance

NASDAQ:PLXS opened at $164.40 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 simple moving average is $145.72 and its two-hundred day simple moving average is $125.60. The stock has a market cap of $4.45 billion, a PE ratio of 41.00 and a beta of 0.87. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $169.41.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $1.44 earnings per share. As a group, analysts forecast that Plexus Corp. will post 6.14 EPS for the current fiscal 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.