Reynders McVeigh Capital Management LLC Takes Position in Plexus Corp. (NASDAQ:PLXS)

Reynders McVeigh Capital Management LLC purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,380 shares of the technology company’s stock, valued at approximately $216,000.

A number of other institutional investors have also added to or reduced their stakes in PLXS. Pacer Advisors Inc. acquired a new position in Plexus during the 4th quarter worth about $107,489,000. American Century Companies Inc. raised its position in shares of Plexus by 72.2% during the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock worth $85,128,000 after acquiring an additional 228,027 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Plexus by 146.9% in the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock worth $40,501,000 after acquiring an additional 154,003 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Plexus by 1,875.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company’s stock worth $21,511,000 after acquiring an additional 130,506 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Plexus during the 4th quarter valued at approximately $15,892,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Price Performance

Shares of PLXS opened at $119.39 on Monday. The business’s fifty day moving average is $129.13 and its 200 day moving average is $145.09. Plexus Corp. has a 12-month low of $92.72 and a 12-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 stock has a market cap of $3.23 billion, a P/E ratio of 27.70 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the sale, the chief accounting officer now owns 29,501 shares in the company, valued at approximately $4,281,775.14. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Randy J. Martinez sold 887 shares of Plexus stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $140.52, for a total transaction of $124,641.24. Following the transaction, the director now directly owns 4,831 shares in the company, valued at approximately $678,852.12. This represents a 15.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,958 shares of company stock valued at $2,551,930. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLXS. Benchmark restated a “buy” rating and set a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus started coverage on Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Plexus currently has an average rating of “Moderate Buy” and an average target price 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.