GSA Capital Partners LLP Purchases Shares of 6,578 Plexus Corp. (NASDAQ:PLXS)

GSA Capital Partners LLP purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,578 shares of the technology company’s stock, valued at approximately $899,000.

A number of other hedge funds have also made changes to their positions in PLXS. Quest Partners LLC increased its stake in Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after purchasing an additional 367 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Plexus in the 2nd quarter valued at $51,000. Farther Finance Advisors LLC boosted its holdings in shares of Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after buying an additional 219 shares in the last quarter. EntryPoint Capital LLC raised its stake in Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after acquiring an additional 351 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Plexus by 190.1% in the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after acquiring an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PLXS shares. KeyCorp started coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Needham & Company LLC lifted their price target on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Benchmark raised their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, StockNews.com cut shares of Plexus from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $133.50.

Plexus Stock Performance

NASDAQ:PLXS opened at $153.13 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 38.19 and a beta of 0.87. The firm’s fifty day moving average price is $139.43 and its 200 day moving average price is $122.29. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $169.41.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, sell-side analysts expect that Plexus Corp. will post 6.13 EPS for the current year.

Insider Transactions at Plexus

In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now owns 8,605 shares in the company, valued at $1,097,137.50. This trade represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the sale, the chief executive officer now directly owns 85,026 shares in the company, valued at approximately $10,628,250. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,552 shares of company stock valued at $5,500,872. Corporate insiders own 2.39% of the company’s stock.

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.