Proficio Capital Partners LLC Makes New $2.28 Million Investment in Plexus Corp. (NASDAQ:PLXS)

Proficio Capital Partners LLC purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,553 shares of the technology company’s stock, valued at approximately $2,277,000. Proficio Capital Partners LLC owned about 0.05% of Plexus as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new stake in shares of Plexus during the 3rd quarter worth approximately $253,000. Natixis Advisors LLC grew its position in Plexus by 13.4% in the 3rd quarter. Natixis Advisors LLC now owns 18,923 shares of the technology company’s stock valued at $2,587,000 after purchasing an additional 2,235 shares during the period. Advisors Asset Management Inc. lifted its stake in Plexus by 85.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after acquiring an additional 305 shares in the last quarter. Moran Wealth Management LLC lifted its stake in Plexus by 4.0% during the 3rd quarter. Moran Wealth Management LLC now owns 52,412 shares of the technology company’s stock valued at $7,165,000 after acquiring an additional 1,994 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Plexus during the 3rd quarter valued at $755,000. Institutional investors own 94.45% of the company’s stock.

Plexus Trading Down 1.1 %

Shares of Plexus stock opened at $123.78 on Wednesday. Plexus Corp. has a 52-week low of $90.24 and a 52-week high of $172.89. The stock’s 50-day simple moving average is $142.15 and its 200 day simple moving average is $145.63. The stock has a market capitalization of $3.35 billion, a P/E ratio of 28.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data 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 net margin of 3.03% and a return on equity of 10.36%. As a group, research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analysts Forecast Growth

PLXS has been the topic of several recent analyst reports. Needham & Company LLC raised their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Benchmark restated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Finally, Stifel Nicolaus initiated coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Insider Activity at Plexus

In other Plexus news, Director Randy J. Martinez sold 887 shares of Plexus stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $140.52, for a total transaction of $124,641.24. Following the completion of the transaction, the director now owns 4,831 shares of the company’s stock, valued at $678,852.12. The trade was a 15.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the transaction, the insider now directly owns 1,276 shares of the company’s stock, valued at $176,879.12. The trade was a 49.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,458 shares of company stock worth $2,786,515. Company insiders own 1.76% of the company’s stock.

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.