Edgestream Partners L.P. Invests $1.32 Million in Plexus Corp. (NASDAQ:PLXS)

Edgestream Partners L.P. acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 13,437 shares of the technology company’s stock, valued at approximately $1,320,000.

Other institutional investors have also modified their holdings of the company. CWM LLC lifted its position in shares of Plexus by 42.4% during the 1st quarter. CWM LLC now owns 413 shares of the technology company’s stock worth $40,000 after purchasing an additional 123 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Plexus by 680.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 773 shares of the technology company’s stock worth $75,000 after purchasing an additional 674 shares during the last quarter. UBS Group AG lifted its position in shares of Plexus by 294.9% during the 3rd quarter. UBS Group AG now owns 924 shares of the technology company’s stock worth $81,000 after purchasing an additional 690 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Plexus during the 4th quarter worth $111,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Plexus during the 2nd quarter worth $127,000. 92.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $92.31, for a total value of $184,620.00. Following the transaction, the chief executive officer now directly owns 109,885 shares in the company, valued at $10,143,484.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Todd P. Kelsey sold 720 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $103.00, for a total transaction of $74,160.00. Following the transaction, the chief executive officer now directly owns 115,165 shares in the company, valued at $11,861,995. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $92.31, for a total transaction of $184,620.00. Following the transaction, the chief executive officer now owns 109,885 shares in the company, valued at $10,143,484.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,720 shares of company stock worth $664,540. 2.05% of the stock is owned by company insiders.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $106.88 on Tuesday. The company’s fifty day moving average price is $95.03 and its 200 day moving average price is $95.36. Plexus Corp. has a 12 month low of $83.84 and a 12 month high of $115.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 0.61. The firm has a market capitalization of $2.94 billion, a P/E ratio of 21.64 and a beta of 1.12.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.18. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Plexus had a net margin of 3.30% and a return on equity of 13.56%. Plexus’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, sell-side analysts predict that Plexus Corp. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PLXS shares. Needham & Company LLC lifted their price target on shares of Plexus from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. StockNews.com started coverage on shares of Plexus in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

Plexus Profile

Plexus Corp., together with its subsidiaries, 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.