New York State Teachers Retirement System Sells 5,449 Shares of Plexus Corp. (NASDAQ:PLXS)

New York State Teachers Retirement System decreased its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,995 shares of the technology company's stock after selling 5,449 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Plexus worth $4,868,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLXS. Proficio Capital Partners LLC bought a new position in Plexus during the 4th quarter worth $2,277,000. Raymond James Financial Inc. bought a new position in Plexus during the 4th quarter worth $15,892,000. Edgestream Partners L.P. bought a new position in Plexus during the 4th quarter worth $1,503,000. Amundi grew its stake in Plexus by 192.1% during the 4th quarter. Amundi now owns 14,000 shares of the technology company's stock worth $2,289,000 after buying an additional 9,207 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Plexus during the 4th quarter worth $1,516,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Stock Performance

Plexus stock traded down $2.94 during trading hours on Monday, hitting $137.06. The stock had a trading volume of 170,121 shares, compared to its average volume of 170,307. The company has a market cap of $3.71 billion, a PE ratio of 26.67 and a beta of 0.80. The company has a 50-day moving average of $131.59 and a two-hundred day moving average of $136.06. Plexus Corp. has a fifty-two week low of $102.00 and a fifty-two week high of $172.89. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The business had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. During the same period in the previous year, the firm posted $0.94 earnings per share. Plexus's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Plexus in a research report on Wednesday, June 4th. Stifel Nicolaus set a $145.00 price target on Plexus in a research report on Thursday, April 24th. Finally, Needham & Company LLC restated a "buy" rating and issued a $162.00 price objective (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Plexus currently has an average rating of "Moderate Buy" and a consensus target price of $155.67.

Insider Buying and Selling at Plexus

In other Plexus news, CFO Patrick John Jermain sold 4,328 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $132.29, for a total value of $572,551.12. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $10,101,699.52. This trade represents a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock valued at $1,582,222 in the last quarter. Company insiders own 1.76% of the company's stock.

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.