Point72 Asia Singapore Pte. Ltd. Boosts Holdings in Plexus Corp. (NASDAQ:PLXS)

Point72 Asia Singapore Pte. Ltd. increased its holdings in Plexus Corp. (NASDAQ:PLXS) by 140.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 975 shares of the technology company’s stock after acquiring an additional 570 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Plexus were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of Plexus in the fourth quarter worth approximately $107,489,000. Barclays PLC raised its stake in Plexus by 139.4% during the 3rd 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 period. KBC Group NV raised its stake in Plexus by 59.9% during the 4th quarter. KBC Group NV now owns 1,180 shares of the technology company’s stock worth $185,000 after acquiring an additional 442 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Plexus during the 4th quarter worth approximately $783,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Plexus by 17.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,779 shares of the technology company’s stock worth $278,000 after acquiring an additional 261 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLXS. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research note on Thursday, April 24th. Needham & Company LLC restated a “buy” rating and set a $162.00 target price (down previously from $172.00) on shares of Plexus in a research note on Friday, April 25th. Finally, Benchmark restated a “buy” rating and set a $160.00 target price on shares of Plexus in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.67.

Plexus Trading Up 1.2%

Plexus stock opened at $134.28 on Friday. The stock has a market cap of $3.64 billion, a P/E ratio of 31.16 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. Plexus Corp. has a 1 year low of $100.96 and a 1 year high of $172.89. The firm’s 50 day moving average price is $124.90 and its 200-day moving average price is $143.05.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to analysts’ expectations of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. On average, equities analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the sale, the chief executive officer now directly owns 87,665 shares in the company, valued at approximately $12,273,100. This represents a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the transaction, the insider now owns 1,276 shares of the company’s stock, valued at approximately $176,879.12. This represents a 49.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,137 shares of company stock worth $577,916 over the last quarter. Insiders own 1.76% of the company’s stock.

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.