Posted by Defense World Staff on May 31st, 2024
Trexquant Investment LP purchased a new position in Plexus Corp. (NASDAQ:PLXS – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,461 shares of the technology company’s stock, valued at approximately $915,000.
Several other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in Plexus during the 4th quarter valued at about $44,000. Cetera Trust Company N.A bought a new stake in Plexus during the 4th quarter worth approximately $54,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Plexus in the 4th quarter worth approximately $66,000. Reynders McVeigh Capital Management LLC bought a new position in Plexus in the 4th quarter valued at $214,000. Finally, CHICAGO TRUST Co NA purchased a new position in shares of Plexus during the 4th quarter valued at $216,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $102.66, for a total transaction of $230,985.00. Following the completion of the sale, the chief accounting officer now directly owns 38,560 shares in the company, valued at approximately $3,958,569.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $102.66, for a total transaction of $230,985.00. Following the completion of the sale, the chief accounting officer now directly owns 38,560 shares in the company, valued at approximately $3,958,569.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victor (Pang Hau) Tan sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $102.50, for a total transaction of $205,000.00. Following the completion of the sale, the insider now directly owns 12,605 shares in the company, valued at approximately $1,292,012.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,730 shares of company stock valued at $3,449,944. 2.39% of the stock is currently owned by insiders.
Plexus Price Performance
Shares of Plexus stock opened at $110.49 on Friday. The firm has a market capitalization of $3.03 billion, a PE ratio of 30.52 and a beta of 1.00. The company has a current ratio of 1.51, a quick ratio of 0.64 and a debt-to-equity ratio of 0.15. Plexus Corp. has a 12 month low of $87.21 and a 12 month high of $114.27. The business’s 50-day moving average price is $101.06 and its 200-day moving average price is $100.51.
Plexus (NASDAQ:PLXS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The firm had revenue of $966.90 million for the quarter, compared to the consensus estimate of $950.75 million. During the same period last year, the firm posted $1.45 earnings per share. The business’s revenue was down 9.7% compared to the same quarter last year. Sell-side analysts forecast that Plexus Corp. will post 3.81 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms recently issued reports on PLXS. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Needham & Company LLC boosted their price objective on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus raised their target price on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $107.75.
Check Out Our Latest Stock Report on PLXS
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.
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