GAMMA Investing LLC Purchases 169,906 Shares of Plexus Corp. (NASDAQ:PLXS)

GAMMA Investing LLC raised its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 19,069.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,797 shares of the technology company's stock after acquiring an additional 169,906 shares during the quarter. GAMMA Investing LLC owned approximately 0.63% of Plexus worth $21,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLXS. American Century Companies Inc. lifted its stake in shares of Plexus by 72.2% in the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock valued at $85,128,000 after purchasing an additional 228,027 shares during the period. Nuveen Asset Management LLC raised its holdings in Plexus by 6.6% in the fourth quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company's stock worth $55,012,000 after purchasing an additional 21,911 shares in the last quarter. Northern Trust Corp lifted its position in Plexus by 10.0% during the fourth quarter. Northern Trust Corp now owns 332,100 shares of the technology company's stock valued at $51,967,000 after buying an additional 30,163 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Plexus by 146.9% during the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after buying an additional 154,003 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Plexus during the 4th quarter valued at $24,747,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Plexus Stock Up 1.6%

Shares of PLXS traded up $2.11 during trading hours on Monday, hitting $134.97. The company had a trading volume of 135,900 shares, compared to its average volume of 169,021. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 31.32 and a beta of 0.81. The firm has a fifty day moving average price of $126.11 and a 200-day moving average price of $140.29. Plexus Corp. has a 52-week low of $100.96 and a 52-week high of $172.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.12. The business had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. Plexus's revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. On average, equities research analysts forecast that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PLXS shares. Needham & Company LLC reissued a "buy" rating and set a $162.00 price target (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus set a $145.00 target price on shares of Plexus in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Plexus presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 4,328 shares of Plexus stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the sale, the chief financial officer now directly owns 25,637 shares in the company, valued at approximately $3,391,518.73. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 646 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $130.05, for a total value of $84,012.30. Following the completion of the transaction, the insider now directly owns 630 shares of the company's stock, valued at approximately $81,931.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,032 shares of company stock valued at $1,582,222. 1.76% of the stock is owned by corporate insiders.

Plexus Company 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.