Plexus Corp. (NASDAQ:PLXS) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP cut its position in Plexus Corp. (NASDAQ:PLXS) by 44.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,659 shares of the technology company’s stock after selling 1,323 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Plexus were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC acquired a new position in Plexus in the 4th quarter valued at about $28,000. Aquatic Capital Management LLC boosted its stake in shares of Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock valued at $37,000 after purchasing an additional 134 shares during the period. R Squared Ltd purchased a new position in shares of Plexus in the fourth quarter valued at approximately $45,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in Plexus during the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

PLXS has been the subject of several recent research reports. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research report on Thursday, April 24th. Benchmark decreased their target price on Plexus from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $162.00 target price (down 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 issued a buy rating to the stock. According to data from MarketBeat.com, Plexus currently has a consensus rating of “Moderate Buy” and an average target price of $155.67.

Insider Buying and Selling

In other Plexus news, insider Michael J. Running sold 1,250 shares of the firm’s 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 sale, the insider now owns 1,276 shares of the company’s stock, valued at approximately $176,879.12. This trade represents a 49.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the business’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 sale, the chief executive officer now owns 87,665 shares of the company’s stock, valued at $12,273,100. This represents a 2.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,137 shares of company stock worth $577,916 over the last 90 days. 1.76% of the stock is owned by insiders.

Plexus Trading Down 0.3%

Shares of NASDAQ:PLXS opened at $126.14 on Monday. Plexus Corp. has a 52 week low of $100.96 and a 52 week high of $172.89. The company’s 50 day moving average is $124.03 and its two-hundred day moving average is $143.41. The company has a market cap of $3.41 billion, a PE ratio of 29.27 and a beta of 0.80. The company has a current ratio of 1.53, a quick ratio of 0.70 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, beating the consensus estimate of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. Plexus had a return on equity of 10.36% and a net margin of 3.03%. Plexus’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Equities analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

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.