Sowell Financial Services LLC Buys New Holdings in Plexus Corp. (NASDAQ:PLXS)

Sowell Financial Services LLC bought a new stake in Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,674 shares of the technology company’s stock, valued at approximately $2,140,000. Sowell Financial Services LLC owned about 0.05% of Plexus as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of PLXS. Quarry LP lifted its position in Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after acquiring an additional 195 shares during the last quarter. R Squared Ltd acquired a new stake in Plexus during the fourth quarter worth approximately $45,000. USA Financial Formulas acquired a new stake in Plexus during the fourth quarter worth approximately $56,000. Point72 DIFC Ltd acquired a new stake in Plexus during the third quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Plexus during the third quarter worth approximately $55,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Stifel Nicolaus started coverage on shares of Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price on the stock. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Insider Activity at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of Plexus stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total transaction of $173,275.00. Following the completion of the transaction, the insider now directly owns 1,276 shares in the company, valued at $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,458 shares of company stock valued at $2,786,515 over the last three months. 1.76% of the stock is owned by insiders.

Plexus Stock Up 0.3 %

Shares of PLXS opened at $124.76 on Monday. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89. The firm’s 50 day moving average is $146.94 and its 200-day moving average is $145.83. The stock has a market capitalization of $3.37 billion, a PE ratio of 28.95 and a beta of 0.90. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

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

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.