Arizona State Retirement System Grows Holdings in Plexus Corp. (NASDAQ:PLXS)

Arizona State Retirement System increased its holdings in shares of Plexus Corp. (NASDAQ:PLXSGet Rating) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,819 shares of the technology company’s stock after buying an additional 285 shares during the period. Arizona State Retirement System’s holdings in Plexus were worth $805,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in Plexus by 13.6% during the 4th quarter. LPL Financial LLC now owns 14,638 shares of the technology company’s stock worth $1,529,000 after buying an additional 1,751 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Plexus during the 4th quarter worth approximately $2,385,000. Harvest Fund Management Co. Ltd increased its stake in Plexus by 553.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 837 shares of the technology company’s stock worth $86,000 after buying an additional 709 shares during the period. SG Americas Securities LLC increased its stake in Plexus by 138.2% during the 4th quarter. SG Americas Securities LLC now owns 10,169 shares of the technology company’s stock worth $1,047,000 after buying an additional 5,900 shares during the period. Finally, ProShare Advisors LLC increased its stake in Plexus by 14.8% during the 4th quarter. ProShare Advisors LLC now owns 4,340 shares of the technology company’s stock worth $447,000 after buying an additional 558 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLXS. StockNews.com started coverage on shares of Plexus in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a report on Friday, January 27th. Needham & Company LLC lowered their price target on shares of Plexus from $112.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Plexus from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Plexus currently has a consensus rating of “Moderate Buy” and an average price target of $107.00.

Plexus Trading Down 0.0 %

Shares of Plexus stock opened at $86.37 on Tuesday. The company has a fifty day simple moving average of $92.44 and a 200-day simple moving average of $99.84. Plexus Corp. has a 12-month low of $74.53 and a 12-month high of $115.36. The company has a current ratio of 1.45, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 14.28 and a beta of 1.11.

Plexus (NASDAQ:PLXSGet Rating) last issued its earnings results on Wednesday, April 26th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.29. Plexus had a net margin of 4.00% and a return on equity of 15.24%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities analysts forecast that Plexus Corp. will post 5.5 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ronnie Darroch sold 4,424 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $89.12, for a total transaction of $394,266.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.05% of the company’s stock.

About Plexus

(Get Rating)

Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense market sectors.

See Also

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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