Concentric Capital Strategies LP bought a new stake in Plexus Corp. (NASDAQ:PLXS – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 51,998 shares of the technology company’s stock, valued at approximately $7,644,000.
A number of other institutional investors have also modified their holdings of the stock. Allworth Financial LP grew its holdings in Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock worth $44,000 after acquiring an additional 52 shares during the period. Maryland State Retirement & Pension System grew its holdings in Plexus by 1.5% during the fourth quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company’s stock worth $579,000 after acquiring an additional 60 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Plexus by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company’s stock worth $908,000 after acquiring an additional 71 shares during the period. Uncommon Cents Investing LLC grew its holdings in Plexus by 0.8% during the fourth quarter. Uncommon Cents Investing LLC now owns 9,925 shares of the technology company’s stock worth $1,459,000 after acquiring an additional 75 shares during the period. Finally, Choreo LLC grew its holdings in Plexus by 1.9% during the fourth quarter. Choreo LLC now owns 5,131 shares of the technology company’s stock worth $767,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.
Plexus Stock Up 1.0%
Plexus stock opened at $294.03 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 42.99 and a beta of 0.89. Plexus Corp. has a fifty-two week low of $115.35 and a fifty-two week high of $302.29. The stock’s fifty day moving average is $258.73 and its two-hundred day moving average is $208.09.
Insider Buying and Selling
In other news, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $290.00, for a total value of $290,000.00. Following the sale, the chief executive officer directly owned 70,388 shares in the company, valued at $20,412,520. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Running sold 510 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.17, for a total value of $138,806.70. Following the completion of the sale, the insider owned 665 shares in the company, valued at $180,993.05. This represents a 43.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,481 shares of company stock valued at $5,412,848 over the last three months. Insiders own 1.78% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PLXS shares. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Plexus in a report on Thursday, April 30th. Stifel Nicolaus set a $280.00 target price on Plexus in a report on Tuesday, May 26th. Zacks Research lowered Plexus from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings lowered Plexus from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.33.
Read Our Latest Analysis on Plexus
Plexus Company Profile
Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.
Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.
Featured Stories
- Five stocks we like better than Plexus
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding PLXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plexus Corp. (NASDAQ:PLXS – Free Report).
Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.
