Plexus Corp. (NASDAQ:PLXS) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,217 shares of the technology company’s stock after selling 499 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Plexus worth $1,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Westfield Capital Management Co. LP acquired a new position in Plexus during the third quarter valued at $13,279,000. First Eagle Investment Management LLC acquired a new position in Plexus during the third quarter valued at $5,865,000. Vanguard Group Inc. lifted its position in Plexus by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock valued at $321,147,000 after purchasing an additional 47,762 shares during the period. Envestnet Asset Management Inc. lifted its position in Plexus by 98.0% during the third quarter. Envestnet Asset Management Inc. now owns 58,710 shares of the technology company’s stock valued at $5,459,000 after purchasing an additional 29,055 shares during the period. Finally, Invesco Ltd. lifted its position in Plexus by 11.8% during the third quarter. Invesco Ltd. now owns 198,239 shares of the technology company’s stock valued at $18,432,000 after purchasing an additional 20,861 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plexus

In related news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total transaction of $51,815.20. Following the completion of the sale, the insider now owns 1,569 shares of the company’s stock, valued at approximately $149,996.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Patrick John Jermain sold 2,532 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the sale, the chief financial officer now owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Running sold 542 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total transaction of $51,815.20. Following the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at approximately $149,996.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,453 shares of company stock valued at $3,112,875. Corporate insiders own 2.39% of the company’s stock.

Plexus Stock Up 1.2 %

PLXS stock opened at $100.28 on Friday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 27.70 and a beta of 1.02. The firm has a 50-day simple moving average of $94.38 and a 200-day simple moving average of $98.38. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. Plexus Corp. has a 52 week low of $83.84 and a 52 week high of $114.06.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 earnings per share. Equities analysts forecast that Plexus Corp. will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLXS has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday. Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of Plexus in a research report on Wednesday, January 17th. Needham & Company LLC upped their price objective on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet downgraded shares of Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Finally, Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $107.75.

Plexus 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.