American Century Companies Inc. Increases Position in Plexus Corp. (NASDAQ:PLXS)

American Century Companies Inc. raised its position in shares of Plexus Corp. (NASDAQ:PLXS) by 72.2% during the fourth quarter, HoldingsChannel reports. The firm owned 544,017 shares of the technology company’s stock after purchasing an additional 228,027 shares during the period. American Century Companies Inc.’s holdings in Plexus were worth $85,128,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC bought a new position in shares of Plexus during the 4th quarter valued at about $28,000. Quarry LP raised its stake in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after acquiring an additional 195 shares in the last quarter. R Squared Ltd bought a new stake in shares of Plexus in the 4th quarter worth approximately $45,000. USA Financial Formulas purchased a new stake in shares of Plexus in the 4th quarter valued at $56,000. Finally, Point72 DIFC Ltd bought a new position in shares of Plexus during the third quarter valued at about $51,000. Institutional investors own 94.45% of the company’s stock.

Insider Activity at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.96, for a total value of $205,440.00. Following the completion of the sale, the chief executive officer now owns 86,932 shares of the company’s stock, valued at approximately $11,906,206.72. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randy J. Martinez sold 887 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was 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 owns 4,831 shares of the company’s stock, valued at $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 have sold 19,458 shares of company stock valued at $2,786,515. 1.76% of the stock is owned by insiders.

Plexus Stock Performance

Plexus stock opened at $132.80 on Tuesday. Plexus Corp. has a twelve month low of $90.87 and a twelve 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 company has a market capitalization of $3.59 billion, a P/E ratio of 30.81 and a beta of 0.90. The stock’s 50 day moving average is $139.50 and its 200 day moving average is $145.78.

Plexus (NASDAQ:PLXS) last released its 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 return on equity of 10.36% and a net margin of 3.03%. On average, equities research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PLXS shares. Stifel Nicolaus began coverage on shares of Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 target price on the stock. Needham & Company LLC increased their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and set a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.00.

About Plexus

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.