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

Arizona State Retirement System increased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,729 shares of the technology company’s stock after purchasing an additional 170 shares during the quarter. Arizona State Retirement System’s holdings in Plexus were worth $797,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its position in shares of Plexus by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock valued at $1,424,000 after purchasing an additional 100 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Plexus by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock valued at $766,000 after buying an additional 137 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after buying an additional 146 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Plexus by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $383,000 after acquiring an additional 152 shares in the last quarter. Finally, Farrow Financial Inc. increased its holdings in shares of Plexus by 0.8% in the 2nd quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company’s stock valued at $2,222,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Needham & Company LLC boosted their target price on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Benchmark upped their target price on shares of Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $124.00.

Plexus Price Performance

Shares of PLXS opened at $126.21 on Friday. The firm has a 50-day simple moving average of $120.64 and a 200-day simple moving average of $107.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 34.86 and a beta of 0.89. Plexus Corp. has a fifty-two week low of $87.21 and a fifty-two week high of $132.46.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business had revenue of $960.70 million for the quarter, compared to analyst estimates of $981.32 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Plexus Corp. will post 3.74 earnings per share for the current year.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the transaction, the chief executive officer now directly owns 96,682 shares of the company’s stock, valued at $11,118,430. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now owns 9,586 shares in the company, valued at $1,227,199.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 1,656 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total transaction of $190,440.00. Following the transaction, the chief executive officer now owns 96,682 shares in the company, valued at $11,118,430. The disclosure for this sale can be found here. Insiders have sold a total of 21,769 shares of company stock valued at $2,731,834 over the last quarter. Corporate insiders own 2.39% of the company’s stock.

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.