Sig Brokerage LP Buys New Position in Plexus Corp. (NASDAQ:PLXS)

Sig Brokerage LP acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,665 shares of the technology company's stock, valued at approximately $573,000.

Other hedge funds also recently bought and sold shares of the company. TD Private Client Wealth LLC purchased a new stake in Plexus in the 4th quarter worth approximately $28,000. Aquatic Capital Management LLC boosted its position in Plexus by 134.0% during the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares during the last quarter. R Squared Ltd purchased a new position in Plexus in the fourth quarter valued at about $45,000. Nomura Asset Management Co. Ltd. grew its position in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Finally, USA Financial Formulas bought a new position in Plexus in the 4th quarter worth $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLXS. 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 report on Friday, April 25th. Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of Plexus in a research report on Friday, May 16th. Finally, Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Plexus has an average rating of "Moderate Buy" and an average target price of $155.67.

Plexus Price Performance

PLXS traded down $1.36 during midday trading on Wednesday, hitting $130.81. The company had a trading volume of 29,715 shares, compared to its average volume of 168,054. Plexus Corp. has a twelve month low of $100.96 and a twelve month high of $172.89. The company has a market capitalization of $3.54 billion, a PE ratio of 30.35 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The firm's 50-day simple moving average is $125.33 and its 200-day simple moving average is $142.84.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results 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. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The business had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the completion of the sale, the insider now directly owns 1,276 shares of the company's stock, valued at $176,879.12. The trade was a 49.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick John Jermain sold 4,328 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the transaction, the chief financial officer now directly owns 25,637 shares in the company, valued at $3,391,518.73. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.

Plexus 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.