Resona Asset Management Co. Ltd. Purchases Shares of 4,937 Plexus Corp. (NASDAQ:PLXS)

Resona Asset Management Co. Ltd. acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,937 shares of the technology company’s stock, valued at approximately $773,000.

Several other institutional investors have also recently made changes to their positions in PLXS. TD Private Client Wealth LLC acquired a new stake in Plexus during the fourth quarter valued at $28,000. Quarry LP increased its stake in shares of Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. R Squared Ltd acquired a new position in Plexus in the 4th quarter worth about $45,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in Plexus during the fourth quarter valued at $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Price Performance

NASDAQ:PLXS opened at $119.18 on Friday. Plexus Corp. has a 52 week low of $92.72 and a 52 week high of $172.89. The stock’s fifty day moving average is $129.55 and its two-hundred day moving average is $145.11. The company has a market capitalization of $3.22 billion, a P/E ratio of 27.65 and a beta of 0.83. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS 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 analysts expect that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLXS shares. Benchmark restated a “buy” rating and set a $165.00 price target on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus began coverage on Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Plexus presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Insider Activity at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total value of $496,814.22. Following the sale, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at approximately $4,281,775.14. This represents a 10.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Running sold 1,250 shares of the stock in a transaction dated 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 transaction, the insider now owns 1,276 shares in the company, valued at approximately $176,879.12. The trade was a 49.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,958 shares of company stock worth $2,551,930. Insiders own 1.76% of the company’s stock.

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.