Legato Capital Management LLC Sells 2,166 Shares of Plexus Corp. (NASDAQ:PLXS)

Legato Capital Management LLC reduced its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

A number of other large investors have also made changes to their positions in PLXS. GAMMA Investing LLC raised its holdings in shares of Plexus by 19,069.1% during the first quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company's stock valued at $21,884,000 after acquiring an additional 169,906 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Plexus in the 4th quarter valued at approximately $24,747,000. JPMorgan Chase & Co. grew its position in Plexus by 146.9% in the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock worth $40,501,000 after acquiring an additional 154,003 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Plexus by 1,875.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock worth $21,511,000 after acquiring an additional 130,506 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Plexus in the fourth quarter worth approximately $15,892,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Buying and Selling

In related news, insider Michael J. Running sold 646 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $130.05, for a total transaction of $84,012.30. Following the completion of the sale, the insider owned 630 shares in the company, valued at $81,931.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Patrick John Jermain sold 4,328 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $132.29, for a total transaction of $572,551.12. Following the sale, the chief financial officer owned 25,637 shares of the company's stock, valued at $3,391,518.73. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,032 shares of company stock worth $1,582,222. Insiders own 1.76% of the company's stock.

Plexus Stock Performance

NASDAQ:PLXS traded up $1.61 during trading hours on Monday, hitting $124.86. 31,640 shares of the company traded hands, compared to its average volume of 181,504. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.27 and a beta of 0.80. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89. The firm has a 50-day moving average of $133.24 and a 200 day moving average of $133.36. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.71 by $0.19. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the company earned $1.45 EPS. The business's quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that Plexus Corp. will post 5.9 EPS for the current year.

Analyst Ratings Changes

PLXS has been the subject of several recent research reports. Needham & Company LLC decreased their target price on shares of Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $135.00 to $150.00 in a report on Friday. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Stifel Nicolaus set a $140.00 price objective on shares of Plexus in a report on Thursday. 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 research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $152.00.

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.