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

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

A number of other hedge funds have also made changes to their positions in PLXS. TD Private Client Wealth LLC bought a new stake in Plexus in the fourth quarter worth about $28,000. Aquatic Capital Management LLC grew its stake in shares of Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock worth $37,000 after purchasing an additional 134 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Plexus by 45.5% in the 4th 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 raised its holdings in shares of Plexus by 1,000.0% in the 1st 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 stake in Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock valued at $121,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Stifel Nicolaus set a $145.00 target price on Plexus in a report on Thursday, April 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of Plexus in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued 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.

Plexus Trading Up 1.0%

Shares of NASDAQ:PLXS traded up $1.37 during mid-day trading on Friday, hitting $132.86. The stock had a trading volume of 99,141 shares, compared to its average volume of 168,788. The company's 50 day moving average is $126.11 and its 200-day moving average is $140.53. Plexus Corp. has a 12-month low of $100.96 and a 12-month 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. The company has a market cap of $3.60 billion, a PE ratio of 30.83 and a beta of 0.81.

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

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $130.00, for a total value of $130,000.00. Following the completion of the sale, the chief executive officer now owns 78,714 shares in the company, valued at $10,232,820. This represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick John Jermain sold 4,328 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total transaction 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. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,032 shares of company stock worth $1,582,222. 1.76% of the stock is owned by company insiders.

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.