Plexus Corp. (NASDAQ:PLXS) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 76.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,212 shares of the technology company's stock after acquiring an additional 53,204 shares during the quarter. Millennium Management LLC owned about 0.46% of Plexus worth $19,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLXS. Barclays PLC boosted its position in Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock worth $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Blue Trust Inc. boosted its position in Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock worth $121,000 after acquiring an additional 84 shares during the last quarter. KBC Group NV boosted its position in Plexus by 59.9% during the fourth quarter. KBC Group NV now owns 1,180 shares of the technology company's stock worth $185,000 after acquiring an additional 442 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Plexus during the fourth quarter worth about $107,489,000. Finally, R Squared Ltd acquired a new position in Plexus during the fourth quarter worth about $45,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PLXS shares. Benchmark restated a "buy" rating and set a $160.00 price target on shares of Plexus in a research report on Friday, May 16th. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research report on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $162.00 target price (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

Insiders Place Their Bets

In other news, insider Michael J. Running sold 1,250 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the sale, the insider now directly owns 1,276 shares of the company's stock, valued at approximately $176,879.12. The trade was a 49.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 4,328 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $132.29, for a total transaction of $572,551.12. Following the completion of the sale, 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. 1.76% of the stock is owned by insiders.

Plexus Price Performance

Shares of PLXS stock opened at $130.26 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The firm's 50-day moving average is $125.45 and its two-hundred day moving average is $142.76. Plexus Corp. has a 12 month low of $100.96 and a 12 month high of $172.89. The company has a market capitalization of $3.53 billion, a PE ratio of 30.22 and a beta of 0.80.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.12. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The company had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. During the same period in the previous year, the firm earned $0.94 earnings per share. Plexus's quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

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.

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