Point72 Asset Management L.P. Invests $311,000 in Plexus Corp. (NASDAQ:PLXS)

Point72 Asset Management L.P. purchased a new position in Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,988 shares of the technology company's stock, valued at approximately $311,000.

Several other hedge funds have also recently made changes to their positions in PLXS. Barclays PLC raised its position in shares of Plexus by 139.4% during the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company's stock valued at $6,669,000 after buying an additional 28,406 shares in the last quarter. Blue Trust Inc. raised its position in shares of Plexus by 12.1% during the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock valued at $121,000 after buying an additional 84 shares in the last quarter. KBC Group NV raised its position in shares of Plexus by 59.9% during the 4th quarter. KBC Group NV now owns 1,180 shares of the technology company's stock valued at $185,000 after buying an additional 442 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Plexus during the 4th quarter valued at about $107,489,000. Finally, R Squared Ltd purchased a new stake in Plexus in the 4th quarter worth about $45,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Trading Up 2.4%

Shares of NASDAQ:PLXS traded up $3.17 during trading on Tuesday, reaching $132.74. 98,360 shares of the company were exchanged, compared to its average volume of 168,072. The firm has a market capitalization of $3.60 billion, a PE ratio of 30.80 and a beta of 0.80. The business's fifty day simple moving average is $125.71 and its 200-day simple moving average is $141.90. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70.

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. The business had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. On average, research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 4,328 shares of the 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 transaction, the chief financial officer now directly owns 25,637 shares in the company, valued at approximately $3,391,518.73. This trade represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.76% of the company's stock.

Analysts Set New Price Targets

PLXS has been the topic of a number of recent analyst reports. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Plexus in a research report on Friday, May 16th. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a research report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $162.00 price objective (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Plexus presently has an average rating of "Moderate Buy" and a consensus target price of $155.67.

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.