Ritholtz Wealth Management Takes $285,000 Position in Plexus Corp. (NASDAQ:PLXS)

Ritholtz Wealth Management bought a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,221 shares of the technology company's stock, valued at approximately $285,000.

A number of other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. lifted its position in Plexus by 72.2% during the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock worth $85,128,000 after acquiring an additional 228,027 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Plexus by 19,069.1% during the first quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company's stock worth $21,884,000 after purchasing an additional 169,906 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in Plexus during the 4th quarter worth approximately $24,747,000. JPMorgan Chase & Co. boosted its stake in Plexus by 146.9% in the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after purchasing an additional 154,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Plexus by 1,875.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock valued at $21,511,000 after buying an additional 130,506 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $162.00 price target (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Stifel Nicolaus set a $145.00 target price on Plexus in a research report on Thursday, April 24th. Finally, Wall Street Zen cut Plexus from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Plexus has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

Plexus Stock Up 1.3%

Shares of PLXS stock traded up $1.70 on Tuesday, hitting $135.41. The stock had a trading volume of 108,354 shares, compared to its average volume of 169,138. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.71. The business has a 50 day moving average of $129.21 and a 200 day moving average of $137.82. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 26.34 and a beta of 0.81.

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

Insider Buying and Selling at Plexus

In other Plexus news, CFO Patrick John Jermain sold 4,328 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was 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. The trade was a 14.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $130.00, for a total value of $130,000.00. Following the completion of the sale, the chief executive officer now owns 78,714 shares of the company's stock, valued at $10,232,820. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,032 shares of company stock worth $1,582,222 over the last three months. 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.