Zurcher Kantonalbank Zurich Cantonalbank Buys 1,284 Shares of Plexus Corp. (NASDAQ:PLXS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Plexus Corp. (NASDAQ:PLXS) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,140 shares of the technology company’s stock after acquiring an additional 1,284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Plexus were worth $1,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of Plexus in the 4th quarter valued at $107,489,000. Raymond James Financial Inc. acquired a new position in Plexus in the fourth quarter valued at $15,892,000. Disciplined Growth Investors Inc. MN boosted its position in Plexus by 2.8% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after acquiring an additional 59,465 shares during the last quarter. Algert Global LLC grew its holdings in Plexus by 1,546.5% during the 3rd quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock worth $6,260,000 after acquiring an additional 43,009 shares during the period. Finally, Barclays PLC raised its position in shares of Plexus by 139.4% in the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after acquiring an additional 28,406 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Up 2.8 %

Shares of NASDAQ:PLXS opened at $127.26 on Thursday. The firm has a market cap of $3.44 billion, a P/E ratio of 29.53 and a beta of 0.90. Plexus Corp. has a 52-week low of $90.24 and a 52-week high of $172.89. The business’s 50 day simple moving average is $141.43 and its two-hundred day simple moving average is $145.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. As a group, research analysts forecast that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 4,337 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the sale, the chief executive officer now owns 80,595 shares in the company, valued at approximately $11,463,026.85. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Running sold 1,250 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the transaction, the insider now owns 1,276 shares in the company, valued at approximately $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,458 shares of company stock worth $2,786,515 in the last quarter. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

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

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.