Legato Capital Management LLC Cuts Stake in Plexus Corp. (NASDAQ:PLXS)

Legato Capital Management LLC reduced its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 31.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,682 shares of the technology company's stock after selling 2,166 shares during the quarter. Legato Capital Management LLC's holdings in Plexus were worth $600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TD Private Client Wealth LLC purchased a new position in Plexus in the fourth quarter worth $28,000. Aquatic Capital Management LLC grew its holdings in Plexus by 134.0% in the fourth 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 position 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 valued at $50,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc raised its position 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 valued at $61,000 after purchasing an additional 430 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Plexus by 49.2% in the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock valued at $108,000 after purchasing an additional 279 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PLXS shares. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a report on Thursday, April 24th. Needham & Company LLC dropped their price objective on shares of Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $135.00 to $150.00 in a report on Friday. Finally, Wall Street Zen raised shares of Plexus from a "buy" rating to a "strong-buy" rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $153.25.

Insiders Place Their Bets

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $130.77, for a total value of $65,385.00. Following the completion of the transaction, the director owned 9,365 shares in the company, valued at approximately $1,224,661.05. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was 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 owned 76,714 shares of the company's stock, valued at approximately $10,101,699.52. This trade represents a 2.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,032 shares of company stock valued at $1,582,222. Insiders own 1.76% of the company's stock.

Plexus Stock Performance

NASDAQ PLXS traded up $4.96 on Friday, reaching $123.25. 577,047 shares of the company's stock traded hands, compared to its average volume of 206,518. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 21.00 and a beta of 0.80. The stock has a 50 day moving average price of $133.46 and a 200-day moving average price of $134.03. Plexus Corp. has a fifty-two week low of $103.43 and a fifty-two week high of $172.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 earnings per share. Equities research analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

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.