Y Intercept Hong Kong Ltd Makes New Investment in Plexus Corp. (NASDAQ:PLXS)

Key Points

• Y Intercept Hong Kong Ltd made a new investment of $375,000 in Plexus Corp., acquiring 2,923 shares of the technology company's stock.
• Plexus Corp. reported earnings of $1.90 per share for its most recent quarter, exceeding analysts' estimates of $1.71, while its revenue matched expectations at $1.02 billion.
• Equities analysts have mixed ratings on Plexus, with updated price targets ranging from $140.00 to $160.00, reflecting a consensus rating of "Moderate Buy".

Y Intercept Hong Kong Ltd bought a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,923 shares of the technology company's stock, valued at approximately $375,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aquatic Capital Management LLC raised its position in Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Plexus by 45.5% in the 4th 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. Versant Capital Management Inc grew its stake in shares of Plexus by 1,000.0% in the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after buying an additional 430 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Plexus by 185.6% during the 1st quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock valued at $66,000 after purchasing an additional 334 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Plexus by 49.2% during the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock valued at $108,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Plexus Trading Down 1.5%

Shares of Plexus stock traded down $1.86 on Friday, hitting $125.64. 55,304 shares of the company traded hands, compared to its average volume of 182,711. The stock's 50 day moving average price is $132.90 and its 200-day moving average price is $132.80. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $172.89. The company has a market cap of $3.40 billion, a PE ratio of 21.30 and a beta of 0.80.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Equities research analysts predict that Plexus Corp. will post 5.9 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $572,551.12. Following the completion of the transaction, the chief financial officer owned 25,637 shares of the company's stock, valued at $3,391,518.73. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction 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 transaction, the director directly owned 9,365 shares in the company, valued at $1,224,661.05. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,032 shares of company stock valued at $1,582,222 over the last ninety days. Company insiders own 1.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLXS shares. Needham & Company LLC decreased their target price on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and raised their price objective for the company from $135.00 to $150.00 in a research report on Friday, July 25th. Wall Street Zen upgraded Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Stifel Nicolaus set a $140.00 price objective on Plexus in a research report on Thursday, July 24th. Finally, Benchmark restated a "buy" rating and set a $160.00 price objective on shares of Plexus in a research report on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.00.

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.