Edgestream Partners L.P. Invests $1.50 Million in Plexus Corp. (NASDAQ:PLXS)

Edgestream Partners L.P. bought a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,607 shares of the technology company’s stock, valued at approximately $1,503,000.

Several other hedge funds also recently made changes to their positions in PLXS. Pacer Advisors Inc. bought a new position in shares of Plexus during the fourth quarter worth approximately $107,489,000. Raymond James Financial Inc. bought a new position in shares of Plexus during the fourth quarter worth approximately $15,892,000. Disciplined Growth Investors Inc. MN increased its holdings 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 purchasing an additional 59,465 shares during the period. Algert Global LLC increased its holdings 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 purchasing an additional 43,009 shares during the period. Finally, Barclays PLC increased its holdings 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 purchasing an additional 28,406 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total value of $234,585.00. Following the transaction, the chief executive officer now owns 74,271 shares in the company, valued at $11,615,241.69. The trade was a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 3,361 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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 owns 20,745 shares in the company, valued at approximately $2,999,104.65. The trade was a 13.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,458 shares of company stock worth $2,786,515 over the last quarter. Company insiders own 1.76% of the company’s stock.

Plexus Stock Performance

Shares of Plexus stock opened at $121.09 on Tuesday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 28.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $172.89. The company’s 50 day moving average price is $146.94 and its two-hundred day moving average price is $145.83.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) 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%. On average, equities analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PLXS shares. Benchmark reissued a “buy” rating and issued a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC lifted 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. Stifel Nicolaus started coverage on shares of Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price objective on the stock. Finally, StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.