Edgestream Partners L.P. Buys 40,800 Shares of Plexus Corp. (NASDAQ:PLXS)

Edgestream Partners L.P. lifted its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 424.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,407 shares of the technology company's stock after purchasing an additional 40,800 shares during the period. Edgestream Partners L.P. owned 0.19% of Plexus worth $6,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new position in shares of Plexus during the 4th quarter worth about $28,000. Aquatic Capital Management LLC boosted its position in Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after buying an additional 134 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted 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 worth $50,000 after purchasing an additional 100 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 purchasing an additional 430 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Plexus by 49.2% during the first quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock worth $108,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PLXS shares. Wall Street Zen upgraded shares of Plexus from a "buy" rating to a "strong-buy" rating in a report on Monday, June 30th. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of Plexus in a research report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $162.00 target price (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Finally, Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.67.

Plexus Stock Performance

Shares of NASDAQ PLXS traded down $3.52 during mid-day trading on Friday, reaching $135.34. 89,802 shares of the company were exchanged, compared to its average volume of 171,000. The company's 50-day simple moving average is $133.46 and its 200-day simple moving average is $134.91. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.67 billion, a P/E ratio of 26.33 and a beta of 0.80. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The company had revenue of $980.17 million during the quarter, compared to analysts' expectations of $980.07 million. During the same quarter last year, the company posted $0.94 EPS. Plexus's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Buying and Selling at Plexus

In related news, CFO Patrick John Jermain sold 4,328 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $132.29, for a total transaction of $572,551.12. Following the transaction, the chief financial officer directly owned 25,637 shares of the company's stock, valued at approximately $3,391,518.73. This trade represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $131.68, for a total transaction of $263,360.00. Following the completion of the transaction, the chief executive officer directly owned 76,714 shares in the company, valued at approximately $10,101,699.52. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock valued at $1,582,222 in the last quarter. Company insiders own 1.76% of the company's stock.

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.