Plexus Corp. (NASDAQ:PLXS) Stake Cut by Vestcor Inc

Vestcor Inc lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 46.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,999 shares of the technology company’s stock after selling 1,765 shares during the period. Vestcor Inc’s holdings in Plexus were worth $313,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PLXS. Pacer Advisors Inc. purchased a new position in Plexus during the fourth quarter valued at approximately $107,489,000. Victory Capital Management Inc. boosted its stake in shares of Plexus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock valued at $27,367,000 after buying an additional 7,483 shares during the period. Stifel Financial Corp purchased a new position in shares of Plexus during the 3rd quarter valued at $332,000. Barclays PLC increased its stake in shares of Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Plexus during the third quarter worth $683,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of Plexus 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 transaction, the chief executive officer now directly owns 74,271 shares in the company, valued at approximately $11,615,241.69. The trade was a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Zycinski sold 1,200 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $140.84, for a total value of $169,008.00. Following the sale, the insider now owns 723 shares of the company’s stock, valued at approximately $101,827.32. The trade was a 62.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,458 shares of company stock valued at $2,786,515 in the last quarter. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PLXS shares. Needham & Company LLC raised their price target on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Stifel Nicolaus initiated coverage on shares of Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Benchmark restated a “buy” rating and set a $165.00 price target on shares of Plexus in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Plexus Stock Up 0.8 %

Shares of PLXS stock opened at $125.16 on Tuesday. The stock’s 50 day simple moving average is $142.87 and its 200 day simple moving average is $145.66. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 29.04 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 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%. As a group, research analysts predict 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.