Entropy Technologies LP Makes New Investment in Plexus Corp. (NASDAQ:PLXS)

Entropy Technologies LP purchased a new position in Plexus Corp. (NASDAQ:PLXS) during the third quarter, Holdings Channel reports. The fund purchased 6,044 shares of the technology company’s stock, valued at approximately $826,000.

A number of other large investors have also bought and sold shares of PLXS. Versor Investments LP bought a new stake in shares of Plexus in the 3rd quarter worth approximately $424,000. Crossmark Global Holdings Inc. grew its position in shares of Plexus by 9.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,977 shares of the technology company’s stock worth $544,000 after buying an additional 344 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Plexus by 13.9% during the third quarter. QRG Capital Management Inc. now owns 4,226 shares of the technology company’s stock valued at $578,000 after purchasing an additional 516 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Plexus by 6.5% during the third quarter. Harbor Capital Advisors Inc. now owns 7,744 shares of the technology company’s stock valued at $1,059,000 after purchasing an additional 476 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after purchasing an additional 219 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Stock Performance

NASDAQ PLXS opened at $153.71 on Friday. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 38.33 and a beta of 0.87. 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 has a 50-day moving average price of $138.77 and a 200-day moving average price of $121.79. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $169.41.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PLXS. StockNews.com lowered Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. KeyCorp initiated coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Needham & Company LLC boosted 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. Finally, Benchmark boosted 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Plexus presently has a consensus rating of “Hold” and a consensus target price of $133.50.

Insider Buying and Selling at Plexus

In other Plexus news, CFO Patrick John Jermain sold 2,643 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $166.32, for a total transaction of $439,583.76. Following the transaction, the chief financial officer now directly owns 21,959 shares in the company, valued at $3,652,220.88. This trade represents a 10.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the transaction, the director now owns 9,586 shares in the company, valued at $1,227,199.72. The trade was a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,973 shares of company stock worth $5,411,746 over the last ninety days. Company insiders own 2.39% of the company’s stock.

About Plexus

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.