SG Americas Securities LLC Invests $917,000 in Plexus Corp. (NASDAQ:PLXS)

SG Americas Securities LLC purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,158 shares of the technology company's stock, valued at approximately $917,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Plexus during the fourth quarter valued at approximately $783,000. Principal Financial Group Inc. raised its holdings in Plexus by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 138,367 shares of the technology company's stock worth $21,652,000 after buying an additional 4,445 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Plexus by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 6,937 shares of the technology company's stock worth $1,086,000 after buying an additional 700 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Plexus during the fourth quarter valued at about $322,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Plexus during the fourth quarter valued at about $2,277,000. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Patrick John Jermain sold 4,328 shares of the 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 transaction, the chief financial officer now directly owns 25,637 shares in the company, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Marie Rapp sold 500 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $130.77, for a total transaction of $65,385.00. Following the completion of the sale, the director now owns 9,365 shares of the company's stock, valued at approximately $1,224,661.05. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,032 shares of company stock worth $1,582,222. 1.76% of the stock is currently owned by corporate insiders.

Plexus Price Performance

Shares of PLXS traded down $0.15 during mid-day trading on Friday, reaching $130.71. 266,629 shares of the stock traded hands, compared to its average volume of 169,637. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 25.43 and a beta of 0.81. Plexus Corp. has a 1 year low of $100.96 and a 1 year high of $172.89. The firm has a fifty day moving average price of $128.96 and a 200 day moving average price of $138.23. The company has a current ratio of 1.53, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its 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 business had revenue of $980.17 million during the quarter, compared to analysts' expectations of $980.07 million. Plexus had a return on equity of 11.17% and a net margin of 3.60%. The firm's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, equities research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Plexus 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.