Choreo LLC Decreases Stock Position in Plexus Corp. (NASDAQ:PLXS)

Choreo LLC decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 21.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,582 shares of the technology company’s stock after selling 437 shares during the period. Choreo LLC’s holdings in Plexus were worth $248,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in Plexus during the 4th quarter worth approximately $107,489,000. Disciplined Growth Investors Inc. MN lifted its stake in shares of Plexus by 2.8% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock worth $296,457,000 after buying an additional 59,465 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock valued at $11,289,000 after buying an additional 50,564 shares during the last quarter. Algert Global LLC increased its position in shares of Plexus by 1,546.5% in the 3rd quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after acquiring an additional 43,009 shares during the period. Finally, Barclays PLC raised its stake in Plexus by 139.4% in the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Trading Down 0.5 %

Plexus stock opened at $139.19 on Friday. The firm has a market cap of $3.76 billion, a PE ratio of 32.29 and a beta of 0.89. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89. The stock’s 50 day simple moving average is $155.93 and its two-hundred day simple moving average is $144.27. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. Analysts anticipate that Plexus Corp. will post 5.94 earnings per share for the current year.

Insider Transactions at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the transaction, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Zycinski sold 1,200 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $140.84, for a total transaction of $169,008.00. Following the sale, the insider now directly owns 723 shares of the company’s stock, valued at $101,827.32. This represents a 62.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,860 shares of company stock valued at $2,292,612 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC boosted their price target on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Benchmark reiterated a “buy” rating and issued a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus began coverage on shares of Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price target for the company. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, KeyCorp assumed coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $163.00.

Plexus Company 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.