First Trust Advisors LP reduced its holdings in Plexus Corp. (NASDAQ:PLXS – Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,015 shares of the technology company’s stock after selling 1,537 shares during the quarter. First Trust Advisors LP owned approximately 0.06% of Plexus worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in PLXS. Pacer Advisors Inc. purchased a new position in shares of Plexus during the 4th quarter worth about $107,489,000. American Century Companies Inc. raised its stake 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 purchasing an additional 228,027 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 last quarter. Principal Financial Group Inc. grew its stake in shares of Plexus by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 138,367 shares of the technology company’s stock valued at $21,652,000 after buying an additional 4,445 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Plexus by 1,875.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company’s stock worth $21,511,000 after buying an additional 130,506 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
Plexus Stock Performance
Shares of NASDAQ:PLXS opened at $127.82 on Monday. The company has a market cap of $3.46 billion, a P/E ratio of 29.66 and a beta of 0.80. Plexus Corp. has a one year low of $100.96 and a one year high of $172.89. The business’s 50-day simple moving average is $124.50 and its 200 day simple moving average is $143.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.
Insider Activity
In other news, CEO Todd P. Kelsey sold 4,337 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total value of $616,851.51. Following the completion of the sale, the chief executive officer now owns 80,595 shares of the company’s stock, valued at approximately $11,463,026.85. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank Zycinski sold 1,200 shares of Plexus stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $140.84, for a total value of $169,008.00. Following the completion of the transaction, the insider now owns 723 shares of the company’s stock, valued at $101,827.32. This trade represents a 62.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,674 shares of company stock worth $1,363,776. 1.76% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $162.00 price target (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research report 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 on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Plexus currently has an average rating of “Moderate Buy” and an average price target of $155.67.
View Our Latest Stock Analysis on PLXS
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.
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