State of New Jersey Common Pension Fund D Sells 12,616 Shares of Plexus Corp. (NASDAQ:PLXS)

State of New Jersey Common Pension Fund D decreased its position in Plexus Corp. (NASDAQ:PLXS) by 42.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,885 shares of the technology company’s stock after selling 12,616 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Plexus were worth $1,742,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PLXS. Vanguard Group Inc. grew its stake in shares of Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares during the last quarter. Fiduciary Management Inc. WI increased its stake in shares of Plexus by 3.8% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after buying an additional 44,398 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Plexus by 8.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after acquiring an additional 87,574 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Plexus by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock worth $46,772,000 after acquiring an additional 31,099 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in Plexus by 28.8% in the first quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock valued at $36,434,000 after acquiring an additional 85,986 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the transaction, the chief executive officer now directly owns 96,682 shares in the company, valued at approximately $11,118,430. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the transaction, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. The disclosure for this sale can be found here. Insiders have sold a total of 21,769 shares of company stock worth $2,731,834 in the last quarter. Corporate insiders own 2.39% of the company’s stock.

Plexus Stock Up 0.6 %

NASDAQ:PLXS opened at $131.55 on Wednesday. Plexus Corp. has a 1-year low of $87.21 and a 1-year high of $132.68. The company has a market capitalization of $3.60 billion, a PE ratio of 36.34 and a beta of 0.89. The firm’s 50-day moving average price is $123.59 and its 200-day moving average price is $109.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The firm had revenue of $960.70 million for the quarter, compared to analysts’ expectations of $981.32 million. During the same period in the previous year, the firm posted $1.32 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts predict that Plexus Corp. will post 3.74 EPS for the current fiscal year.

Analysts Set New Price Targets

PLXS has been the subject of several research reports. Benchmark upped their price objective on shares of Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Needham & Company LLC increased their price target on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Plexus presently has an average rating of “Hold” and a consensus price target of $124.00.

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.