Maryland State Retirement & Pension System Has $1.01 Million Stake in Plexus Corp. (NASDAQ:PLXS)

Maryland State Retirement & Pension System reduced its stake in Plexus Corp. (NASDAQ:PLXS) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,895 shares of the technology company’s stock after selling 1,274 shares during the period. Maryland State Retirement & Pension System’s holdings in Plexus were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Plexus by 49.6% in the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company’s stock worth $171,000 after purchasing an additional 442 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Plexus during the first quarter valued at about $917,000. Ritholtz Wealth Management bought a new stake in shares of Plexus during the first quarter worth about $285,000. Meeder Asset Management Inc. acquired a new position in shares of Plexus in the first quarter valued at approximately $121,000. Finally, Franklin Resources Inc. acquired a new position in shares of Plexus in the fourth quarter valued at approximately $928,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLXS has been the topic of several recent research reports. Stifel Nicolaus set a $140.00 target price on shares of Plexus in a research report on Thursday, July 24th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Plexus in a report on Wednesday, June 4th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $135.00 to $150.00 in a research note on Friday, July 25th. Wall Street Zen upgraded Plexus from a “buy” rating to a “strong-buy” rating in a report on Monday, June 30th. Finally, Needham & Company LLC cut their target price on Plexus from $162.00 to $158.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.00.

Plexus Trading Down 0.9%

NASDAQ:PLXS opened at $128.51 on Tuesday. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $172.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.58. The firm’s fifty day moving average is $132.57 and its 200-day moving average is $130.60. The firm has a market cap of $3.47 billion, a P/E ratio of 21.89 and a beta of 0.80.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Activity at Plexus

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $130.77, for a total value of $65,385.00. Following the transaction, the director directly owned 9,365 shares of the company’s stock, valued at approximately $1,224,661.05. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patrick John Jermain sold 2,178 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $130.42, for a total value of $284,054.76. Following the transaction, the chief financial officer owned 23,459 shares in the company, valued at $3,059,522.78. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,710 shares of company stock worth $2,054,722 over the last quarter. 1.76% of the stock is owned by company insiders.

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.