Plexus Corp. (NASDAQ:PLXS) Shares Sold by Vestcor Inc

Vestcor Inc lessened its position in Plexus Corp. (NASDAQ:PLXS) by 46.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,999 shares of the technology company’s stock after selling 1,765 shares during the period. Vestcor Inc’s holdings in Plexus were worth $313,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in Plexus in the 4th quarter worth about $107,489,000. Victory Capital Management Inc. grew its holdings in Plexus by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock worth $27,367,000 after buying an additional 7,483 shares in the last quarter. Stifel Financial Corp bought a new position in Plexus in the 3rd quarter worth approximately $332,000. Barclays PLC increased its position in Plexus by 139.4% in the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after acquiring an additional 28,406 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Plexus during the 3rd quarter valued at $683,000. 94.45% of the stock is currently owned by institutional investors.

Insider Transactions at Plexus

In other Plexus news, Director Randy J. Martinez sold 887 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $140.52, for a total transaction of $124,641.24. Following the completion of the sale, the director now directly owns 4,831 shares of the company’s stock, valued at approximately $678,852.12. This represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 4,337 shares of Plexus stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the transaction, the chief executive officer now directly owns 80,595 shares in the company, valued at approximately $11,463,026.85. This trade represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,458 shares of company stock valued at $2,786,515 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $125.16 on Tuesday. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $142.87 and a two-hundred day moving average of $145.66. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 29.04 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. As a group, analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research analyst reports. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Benchmark reissued a “buy” rating and set a $165.00 target price on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus started coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Plexus has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

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.