Teacher Retirement System of Texas Acquires 7,194 Shares of Plexus Corp. (NASDAQ:PLXS)

Teacher Retirement System of Texas increased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,015 shares of the technology company’s stock after acquiring an additional 7,194 shares during the quarter. Teacher Retirement System of Texas owned about 0.24% of Plexus worth $10,174,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PLXS. Pacer Advisors Inc. bought a new position in Plexus during the fourth quarter worth about $107,489,000. Raymond James Financial Inc. bought a new position in Plexus during the fourth quarter worth about $15,892,000. Disciplined Growth Investors Inc. MN increased its position in 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. Algert Global LLC increased its position in 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 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 institutional investors.

Plexus Trading Down 0.7 %

PLXS opened at $128.21 on Friday. The company’s 50 day moving average is $140.08 and its 200-day moving average is $145.55. Plexus Corp. has a 1-year low of $90.87 and a 1-year high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.47 billion, a P/E ratio of 29.75 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Equities research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of Plexus stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total transaction of $234,585.00. Following the sale, the chief executive officer now owns 74,271 shares in the company, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,458 shares of company stock worth $2,786,515. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLXS. Stifel Nicolaus began 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. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price objective on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Two equities research 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, Plexus currently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

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.