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

Lazard Asset Management LLC bought a new position in Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,303 shares of the technology company’s stock, valued at approximately $3,645,000. Lazard Asset Management LLC owned approximately 0.09% of Plexus at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PLXS. TD Private Client Wealth LLC bought a new position in Plexus during the fourth quarter valued at $28,000. Aquatic Capital Management LLC increased its stake in Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock worth $37,000 after buying an additional 134 shares during the period. R Squared Ltd purchased a new position in Plexus in the 4th quarter worth about $45,000. Nomura Asset Management Co. Ltd. increased its stake in Plexus by 45.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares during the period. Finally, USA Financial Formulas purchased a new position in Plexus in the 4th quarter worth about $56,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PLXS shares. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of Plexus in a research note on Friday. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research note on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

Plexus Stock Up 1.2%

Shares of Plexus stock opened at $134.28 on Friday. 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 1 year low of $100.96 and a 1 year high of $172.89. The firm’s 50-day moving average is $124.90 and its two-hundred day moving average is $143.05. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 31.16 and a beta of 0.80.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.12. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The company had revenue of $980.17 million for the quarter, compared to analysts’ expectations of $980.07 million. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Randy J. Martinez sold 887 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $140.52, for a total value of $124,641.24. Following the completion of the transaction, the director now directly owns 4,831 shares of the company’s stock, valued at $678,852.12. This trade represents a 15.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Running sold 1,250 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total transaction of $173,275.00. Following the completion of the transaction, the insider now directly owns 1,276 shares of the company’s stock, valued at $176,879.12. The trade was 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 4,137 shares of company stock worth $577,916 in the last three months. Corporate insiders own 1.76% of the company’s stock.

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.