New York State Common Retirement Fund Sells 7,734 Shares of Plexus Corp. (NASDAQ:PLXS)

New York State Common Retirement Fund decreased its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 37.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,954 shares of the technology company's stock after selling 7,734 shares during the period. New York State Common Retirement Fund's holdings in Plexus were worth $1,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its position in Plexus by 10.3% during the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the technology company's stock worth $466,000 after purchasing an additional 278 shares in the last quarter. Xponance Inc. raised its holdings in shares of Plexus by 23.8% during the fourth quarter. Xponance Inc. now owns 2,209 shares of the technology company's stock worth $346,000 after acquiring an additional 424 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in Plexus in the fourth quarter valued at about $28,000. Virtu Financial LLC acquired a new position in Plexus in the 4th quarter worth about $257,000. Finally, Sei Investments Co. raised its stake in shares of Plexus by 30.4% during the 4th quarter. Sei Investments Co. now owns 7,264 shares of the technology company's stock worth $1,137,000 after purchasing an additional 1,692 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Plexus Stock Performance

Shares of PLXS traded up $4.96 during trading hours on Friday, reaching $123.25. 577,047 shares of the company traded hands, compared to its average volume of 206,518. The stock's fifty day moving average is $133.24 and its 200 day moving average is $133.57. The stock has a market cap of $3.34 billion, a P/E ratio of 21.00 and a beta of 0.80. 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 Corp. has a 1-year low of $103.43 and a 1-year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Equities research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $132.22, for a total transaction of $272,108.76. Following the sale, the chief accounting officer directly owned 26,133 shares of the company's stock, valued at approximately $3,455,305.26. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Marie Rapp sold 500 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $130.77, for a total transaction of $65,385.00. Following the sale, the director directly owned 9,365 shares in the company, valued at $1,224,661.05. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,032 shares of company stock valued at $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.