Bosun Asset Management LLC Makes New Investment in Plexus Corp. (NASDAQ:PLXS)

Bosun Asset Management LLC acquired a new stake in shares of Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,149 shares of the technology company’s stock, valued at approximately $493,000.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in Plexus during the fourth quarter worth approximately $107,489,000. American Century Companies Inc. grew its holdings in shares of Plexus by 72.2% in the 4th 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. Northern Trust Corp raised its position in shares of Plexus by 10.0% during the fourth quarter. Northern Trust Corp now owns 332,100 shares of the technology company’s stock worth $51,967,000 after purchasing an additional 30,163 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Plexus by 146.9% during the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock valued at $40,501,000 after purchasing an additional 154,003 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Plexus in the 4th quarter valued at $24,747,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $140.00, for a total transaction of $280,000.00. Following the completion of the transaction, the chief executive officer now directly owns 87,665 shares in the company, valued at $12,273,100. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 1,250 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the completion of the sale, the insider now owns 1,276 shares in the company, valued at $176,879.12. This represents a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,674 shares of company stock valued at $1,363,776 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Plexus Stock Performance

PLXS stock opened at $125.63 on Tuesday. The firm has a 50 day moving average of $124.31 and a two-hundred day moving average of $143.75. Plexus Corp. has a 12 month low of $100.96 and a 12 month high of $172.89. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 29.15 and a beta of 0.80. 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, April 23rd. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. As a group, equities analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PLXS shares. Benchmark cut their price target on shares of Plexus from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $162.00 price objective (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Finally, Stifel Nicolaus set a $145.00 price target on shares of Plexus in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $155.67.

Plexus Company 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.