Harvest Fund Management Co. Ltd Grows Stake in Plexus Corp. (NASDAQ:PLXS)

Harvest Fund Management Co. Ltd grew its holdings in Plexus Corp. (NASDAQ:PLXS) by 281.7% during the fourth quarter, HoldingsChannel reports. The fund owned 10,870 shares of the technology company’s stock after purchasing an additional 8,022 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Plexus were worth $1,701,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP increased its holdings 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 acquiring an additional 195 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Plexus in the 4th quarter valued at about $45,000. Point72 DIFC Ltd acquired a new stake in shares of Plexus in the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Plexus in the 3rd quarter valued at about $55,000. Finally, USA Financial Formulas acquired a new stake in shares of Plexus in the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other Plexus news, 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 transaction, 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 filing with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total value of $496,814.22. Following the sale, the chief accounting officer now owns 29,501 shares in the company, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,458 shares of company stock valued at $2,786,515. Corporate insiders own 1.76% of the company’s stock.

Plexus Stock Up 2.8 %

PLXS opened at $127.26 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The business has a 50 day simple moving average of $141.43 and a 200-day simple moving average of $145.50. The stock has a market capitalization of $3.44 billion, a P/E ratio of 29.53 and a beta of 0.90. Plexus Corp. has a 12 month low of $90.24 and a 12 month high of $172.89.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, equities analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Needham & Company LLC upped their target price on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Stifel Nicolaus assumed coverage on Plexus in a research report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 target price for the company. Finally, Benchmark reissued a “buy” rating and issued a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.