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

Point72 Asset Management L.P. purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,988 shares of the technology company's stock, valued at approximately $311,000.

Other institutional investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC bought a new position in shares of Plexus in the fourth quarter valued at approximately $28,000. Aquatic Capital Management LLC increased its position in Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock worth $37,000 after buying an additional 134 shares during the last quarter. R Squared Ltd purchased a new stake in Plexus in the fourth quarter worth $45,000. Nomura Asset Management Co. Ltd. increased its position in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after buying an additional 100 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Plexus by 12.1% in the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock worth $121,000 after buying an additional 84 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Plexus

In related news, CFO Patrick John Jermain sold 4,328 shares of the company'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 now owns 25,637 shares in the company, valued at $3,391,518.73. The trade was a 14.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $130.00, for a total transaction of $130,000.00. Following the completion of the transaction, the chief executive officer now owns 78,714 shares in the company, valued at approximately $10,232,820. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,328 shares of company stock valued at $965,911. Corporate insiders own 1.76% of the company's stock.

Plexus Price Performance

Shares of PLXS stock traded down $2.05 during trading hours on Wednesday, hitting $130.69. 58,748 shares of the company's stock were exchanged, compared to its average volume of 180,955. The company has a market capitalization of $3.54 billion, a PE ratio of 30.39 and a beta of 0.80. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The business's 50 day simple moving average is $125.79 and its 200-day simple moving average is $141.84. The company has a current ratio of 1.53, a quick ratio of 0.70 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 EPS for the quarter, topping the consensus estimate of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The business's revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. On average, equities research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current year.

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.