Massar Capital Management LP Takes $870,000 Position in Plexus Corp. (NASDAQ:PLXS)

Massar Capital Management LP purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,560 shares of the technology company's stock, valued at approximately $870,000.

Other hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC bought a new stake in shares of Plexus during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in shares of Plexus during the fourth quarter valued at approximately $45,000. Nomura Asset Management Co. Ltd. raised its holdings in Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas bought a new stake in Plexus during the fourth quarter worth approximately $56,000. Finally, Blue Trust Inc. raised its holdings in Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock worth $121,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Plexus Price Performance

Shares of Plexus stock traded up $1.45 during mid-day trading on Friday, reaching $126.80. 142,114 shares of the stock were exchanged, compared to its average volume of 166,801. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 29.42 and a beta of 0.83. Plexus Corp. has a fifty-two week low of $99.79 and a fifty-two week high of $172.89. The firm has a 50-day simple moving average of $125.74 and a 200 day simple moving average of $144.27.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, sell-side analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insider Transactions at Plexus

In related news, CFO Patrick John Jermain sold 3,361 shares of Plexus stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $144.57, for a total transaction of $485,899.77. Following the transaction, the chief financial officer now owns 20,745 shares of the company's stock, valued at $2,999,104.65. This trade represents a 13.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of Plexus stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at approximately $4,281,775.14. The trade was a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,958 shares of company stock worth $2,551,930 in the last quarter. 1.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

PLXS has been the subject of several research reports. Benchmark reduced their price objective on Plexus from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday. Stifel Nicolaus set a $145.00 target price on Plexus in a research note on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $155.67.

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.