State of Alaska Department of Revenue Trims Stake in Plexus Corp. (NASDAQ:PLXS)

State of Alaska Department of Revenue reduced its position in Plexus Corp. (NASDAQ:PLXS) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,449 shares of the technology company’s stock after selling 88 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Plexus worth $2,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new position in shares of Plexus during the fourth quarter worth approximately $107,489,000. Disciplined Growth Investors Inc. MN increased its position in shares of Plexus by 2.8% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock worth $296,457,000 after acquiring an additional 59,465 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after acquiring an additional 50,564 shares during the period. Algert Global LLC increased its position in shares of Plexus by 1,546.5% during the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock worth $6,260,000 after acquiring an additional 43,009 shares during the period. Finally, Barclays PLC increased its position in shares of Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after acquiring an additional 28,406 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Price Performance

Shares of PLXS opened at $141.76 on Tuesday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 32.89 and a beta of 0.89. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $158.06 and a two-hundred day moving average of $144.17.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Plexus Corp. will post 5.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plexus news, CEO Todd P. Kelsey sold 4,337 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total value of $616,851.51. Following the completion of the transaction, the chief executive officer now owns 80,595 shares of the company’s stock, valued at approximately $11,463,026.85. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Patrick John Jermain sold 3,361 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $144.57, for a total transaction of $485,899.77. Following the completion of the transaction, the chief financial officer now directly owns 20,745 shares of the company’s stock, valued at approximately $2,999,104.65. This represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,239 shares of company stock valued at $2,212,730. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PLXS shares. Needham & Company LLC increased their price objective on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Stifel Nicolaus started coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Finally, KeyCorp started coverage on shares of Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

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.