Edgestream Partners L.P. Raises Position in Plexus Corp. (NASDAQ:PLXS)

Edgestream Partners L.P. grew its position in shares of Plexus Corp. (NASDAQ:PLXS) by 424.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,407 shares of the technology company’s stock after buying an additional 40,800 shares during the period. Edgestream Partners L.P. owned 0.19% of Plexus worth $6,459,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Plexus by 72.2% in the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock worth $85,128,000 after acquiring an additional 228,027 shares during the period. Nuveen Asset Management LLC grew its position in Plexus by 6.6% during the fourth quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company’s stock worth $55,012,000 after buying an additional 21,911 shares in the last quarter. Northern Trust Corp increased its position in shares of Plexus by 10.0% in the fourth quarter. Northern Trust Corp now owns 332,100 shares of the technology company’s stock worth $51,967,000 after purchasing an additional 30,163 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Plexus by 146.9% in the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock valued at $40,501,000 after purchasing an additional 154,003 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Plexus by 19,069.1% during the 1st quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company’s stock valued at $21,884,000 after buying an additional 169,906 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Stock Down 0.6%

PLXS stock opened at $133.11 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.53. Plexus Corp. has a fifty-two week low of $103.43 and a fifty-two week high of $172.89. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 25.90 and a beta of 0.80. The business’s 50 day moving average price is $132.65 and its two-hundred day moving average price is $135.19.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The firm had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $131.68, for a total value of $263,360.00. Following the completion of the transaction, the chief executive officer owned 76,714 shares in the company, valued at $10,101,699.52. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Running sold 646 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $130.05, for a total value of $84,012.30. Following the completion of the transaction, the insider directly owned 630 shares of the company’s stock, valued at approximately $81,931.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,032 shares of company stock valued at $1,582,222 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLXS. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Needham & Company LLC restated a “buy” rating and set a $162.00 target price (down from $172.00) on shares of Plexus in a report on Friday, April 25th. Wall Street Zen raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a report on Monday, June 30th. Finally, Stifel Nicolaus set a $145.00 price target on Plexus in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.67.

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.