Choreo LLC Buys 2,937 Shares of Plexus Corp. (NASDAQ:PLXS)

Key Points

• Choreo LLC increased its stake in Plexus Corp. by 185.7% during Q1, now holding 4,519 shares worth approximately $579,000.
• Several institutional investors, including HighTower Advisors and JPMorgan Chase, significantly raised their positions in Plexus during the fourth quarter, indicating growing interest in the company.
• New price target adjustments by analysts include a decrease from $162 to $158 by Needham & Company, while Sidoti upgraded the stock to a "buy" and set a new target of $150.

Choreo LLC boosted its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 185.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,519 shares of the technology company's stock after purchasing an additional 2,937 shares during the period. Choreo LLC's holdings in Plexus were worth $579,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aquatic Capital Management LLC boosted its holdings in Plexus by 134.0% in the 4th 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 period. Nomura Asset Management Co. Ltd. increased its position in shares of Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock valued at $50,000 after buying an additional 100 shares during the period. Versant Capital Management Inc boosted its stake in Plexus by 1,000.0% during the first quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after acquiring an additional 430 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Plexus by 185.6% in the first quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock worth $66,000 after buying an additional 334 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Plexus by 49.2% in the first quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock worth $108,000 after buying an additional 279 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plexus

In other news, CFO Patrick John Jermain sold 4,328 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $132.29, for a total transaction of $572,551.12. Following the completion of the sale, the chief financial officer owned 25,637 shares in the company, valued at approximately $3,391,518.73. The trade was a 14.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $129.87, for a total transaction of $194,805.00. Following the transaction, the chief executive officer directly owned 75,214 shares in the company, valued at approximately $9,768,042.18. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,032 shares of company stock valued at $1,582,222 over the last three months. Company insiders own 1.76% of the company's stock.

Plexus Trading Down 1.1%

Shares of PLXS stock traded down $1.39 during mid-day trading on Thursday, hitting $126.45. The company's stock had a trading volume of 50,504 shares, compared to its average volume of 182,549. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $172.89. The company has a market cap of $3.43 billion, a PE ratio of 21.54 and a beta of 0.80. The company's fifty day simple moving average is $133.01 and its 200-day simple moving average is $133.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.58.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. Plexus's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share. As a group, equities research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PLXS shares. Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and raised their target price for the stock from $135.00 to $150.00 in a report on Friday, July 25th. Wall Street Zen upgraded shares of Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Stifel Nicolaus set a $140.00 price objective on shares of Plexus in a research note on Thursday, July 24th. Needham & Company LLC lowered their price objective on shares of Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $152.00.

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.