Massachusetts Financial Services Co. MA Sells 5,440 Shares of Plexus Corp. (NASDAQ:PLXS)

Massachusetts Financial Services Co. MA cut its position in shares of Plexus Corp. (NASDAQ:PLXS) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 436,491 shares of the technology company’s stock after selling 5,440 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.59% of Plexus worth $45,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Plexus during the fourth quarter valued at $19,533,000. Trexquant Investment LP purchased a new position in Plexus during the fourth quarter valued at $915,000. Johnson Financial Group Inc. raised its stake in Plexus by 193.7% during the fourth quarter. Johnson Financial Group Inc. now owns 3,888 shares of the technology company’s stock valued at $420,000 after buying an additional 2,564 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Plexus by 108.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after buying an additional 155,447 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 3.4 %

Shares of Plexus stock opened at $132.39 on Friday. Plexus Corp. has a twelve month low of $87.21 and a twelve month high of $132.50. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $122.57 and its 200 day moving average is $108.53. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 36.57 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.17. The company had revenue of $960.70 million for the quarter, compared to analysts’ expectations of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.32 earnings per share. Research analysts anticipate that Plexus Corp. will post 3.74 EPS for the current year.

Insider Buying and Selling at Plexus

In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total value of $127,500.00. Following the transaction, the insider now owns 8,605 shares of the company’s stock, valued at $1,097,137.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares in the company, valued at approximately $1,097,137.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total value 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 sold a total of 21,769 shares of company stock worth $2,731,834 in the last three months. 2.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PLXS. Benchmark increased their price target on shares of Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 29th. Needham & Company LLC increased their target price on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plexus currently has a consensus rating of “Hold” and an average price target of $124.00.

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.