State of Tennessee Department of Treasury Has $2.13 Million Stake in Plexus Corp. (NASDAQ:PLXS)

State of Tennessee Department of Treasury grew its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 33.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,602 shares of the technology company's stock after acquiring an additional 3,410 shares during the period. State of Tennessee Department of Treasury owned about 0.05% of Plexus worth $2,128,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MetLife Investment Management LLC increased its position in shares of Plexus by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 15,999 shares of the technology company's stock worth $2,504,000 after acquiring an additional 337 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Plexus in the 4th quarter worth approximately $1,596,000. Zacks Investment Management purchased a new position in Plexus during the 4th quarter worth approximately $3,942,000. Barclays PLC raised its stake in Plexus by 11.6% during the 4th quarter. Barclays PLC now owns 54,425 shares of the technology company's stock valued at $8,515,000 after purchasing an additional 5,639 shares during the period. Finally, Reynders McVeigh Capital Management LLC purchased a new stake in shares of Plexus in the fourth quarter valued at $216,000. 94.45% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Todd P. Kelsey sold 4,337 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total transaction of $616,851.51. Following the transaction, the chief executive officer now owns 80,595 shares of the company's stock, valued at approximately $11,463,026.85. This represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Running sold 1,250 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now owns 1,276 shares of the company's stock, valued at approximately $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,174 shares of company stock worth $1,569,216. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLXS shares. Needham & Company LLC reissued a "buy" rating and set a $162.00 price target (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Stifel Nicolaus set a $145.00 target price on Plexus in a research note on Thursday, April 24th. Finally, Benchmark reduced their price target on shares of Plexus from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $155.67.

Plexus Stock Up 2.9 %

PLXS traded up $3.66 during trading on Friday, reaching $127.82. 110,197 shares of the stock traded hands, compared to its average volume of 166,236. The stock's 50-day simple moving average is $124.50 and its two-hundred day simple moving average is $143.76. 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 Corp. has a fifty-two week low of $100.96 and a fifty-two week high of $172.89. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 29.66 and a beta of 0.80.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating 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 10.36% and a net margin of 3.03%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. As a group, equities research analysts expect that Plexus Corp. will post 5.9 EPS 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.