First Eagle Investment Management LLC Sells 9,600 Shares of Plexus Corp. (NASDAQ:PLXS)

First Eagle Investment Management LLC decreased its position in Plexus Corp. (NASDAQ:PLXS) by 16.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,012 shares of the technology company’s stock after selling 9,600 shares during the quarter. First Eagle Investment Management LLC owned 0.18% of Plexus worth $5,160,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Trexquant Investment LP acquired a new stake in Plexus in the 4th quarter valued at about $915,000. Westfield Capital Management Co. LP grew its holdings in shares of Plexus by 108.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after purchasing an additional 155,447 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Plexus during the first quarter worth $515,000. Norges Bank acquired a new stake in shares of Plexus during the fourth quarter valued at about $19,533,000. Finally, Quantbot Technologies LP bought a new stake in shares of Plexus in the first quarter worth $533,000. 94.45% of the stock is owned by institutional investors.

Plexus Stock Down 1.0 %

PLXS opened at $131.03 on Friday. The company’s 50-day moving average price is $122.97 and its two-hundred day moving average price is $108.79. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Plexus Corp. has a twelve month low of $87.21 and a twelve month high of $132.68. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 36.20 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. The business had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. Plexus had a return on equity of 9.64% and a net margin of 2.82%. Plexus’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. As a group, equities analysts expect that Plexus Corp. will post 3.74 earnings per share for the current year.

Insider Buying and Selling

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, 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 is available through the SEC website. In other news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total value of $190,440.00. Following the sale, the chief executive officer now directly owns 96,682 shares in the company, valued at approximately $11,118,430. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,769 shares of company stock valued at $2,731,834. 2.39% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.