Natixis Advisors LLC Lowers Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Natixis Advisors LLC lessened its position in Plexus Corp. (NASDAQ:PLXS) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,512 shares of the technology company’s stock after selling 2,411 shares during the quarter. Natixis Advisors LLC’s holdings in Plexus were worth $2,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its position in shares of Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. R Squared Ltd purchased a new position in shares of Plexus in the fourth quarter valued at approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of Plexus in the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Plexus in the third quarter valued at approximately $55,000. Finally, USA Financial Formulas acquired a new stake in shares of Plexus in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other 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 directly owns 1,276 shares in the company, valued at $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 available at the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the transaction, the chief executive officer now owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,458 shares of company stock valued at $2,786,515 over the last quarter. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC increased their price target on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Stifel Nicolaus assumed coverage on Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $165.00 price target 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. Based on data from MarketBeat.com, Plexus currently has an average rating of “Moderate Buy” and an average price target of $163.00.

Plexus Price Performance

PLXS stock opened at $128.21 on Monday. The business has a fifty day moving average of $140.08 and a two-hundred day moving average of $145.71. 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 stock has a market cap of $3.47 billion, a price-to-earnings ratio of 29.75 and a beta of 0.90. Plexus Corp. has a 52-week low of $90.87 and a 52-week high of $172.89.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (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%. As a group, research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current 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.