Plexus Corp. (NASDAQ:PLXS) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP trimmed its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 44.4% in the fourth quarter, Holdings Channel reports. The fund owned 1,659 shares of the technology company’s stock after selling 1,323 shares during the period. Brevan Howard Capital Management LP’s holdings in Plexus were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC acquired a new position in shares of Plexus in the fourth quarter valued at approximately $28,000. Aquatic Capital Management LLC grew its position in Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock valued at $37,000 after buying an additional 134 shares during the last quarter. R Squared Ltd acquired a new position in Plexus in the 4th quarter valued at $45,000. Nomura Asset Management Co. Ltd. raised its position in Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Plexus in the 4th quarter worth $56,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Price Performance

Plexus stock opened at $126.14 on Monday. The company has a market cap of $3.41 billion, a P/E ratio of 29.27 and a beta of 0.80. Plexus Corp. has a one year low of $100.96 and a one year high of $172.89. The business has a fifty day moving average of $124.03 and a two-hundred day moving average of $143.41. 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, April 23rd. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.54 by $0.12. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The firm had revenue of $980.17 million during the quarter, compared to analysts’ expectations of $980.07 million. During the same quarter last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $140.00, for a total transaction of $280,000.00. Following the sale, the chief executive officer now directly owns 87,665 shares in the company, valued at approximately $12,273,100. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now directly owns 1,276 shares in the company, valued at $176,879.12. This trade represents a 49.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,137 shares of company stock worth $577,916 in the last quarter. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Benchmark lowered their target price on shares of Plexus from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Stifel Nicolaus set a $145.00 price objective on Plexus in a report on Thursday, April 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $162.00 target price (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Plexus currently has a consensus rating of “Moderate Buy” and an average target price of $155.67.

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.