4,994 Shares in Plexus Corp. (NASDAQ:PLXS) Acquired by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in shares of Plexus Corp. (NASDAQ:PLXS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,994 shares of the technology company’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quest Partners LLC grew its position in Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Plexus during the 2nd quarter valued at about $51,000. Farther Finance Advisors LLC boosted its stake in Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after buying an additional 219 shares in the last quarter. Advisors Asset Management Inc. grew its position in Plexus by 85.0% during the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after acquiring an additional 305 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Trading Down 0.8 %

NASDAQ PLXS opened at $166.57 on Wednesday. The stock has a market cap of $4.51 billion, a P/E ratio of 41.54 and a beta of 0.90. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $170.07. The stock has a 50 day simple moving average of $150.96 and a two-hundred day simple moving average of $128.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 earnings per share. On average, analysts forecast that Plexus Corp. will post 6.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday. KeyCorp began coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC increased their target price on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Benchmark increased their price objective on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.25.

Insiders Place Their Bets

In other news, insider Michael J. Running sold 539 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the sale, the insider now owns 1,030 shares in the company, valued at approximately $160,546.10. The trade was a 34.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Patrick John Jermain sold 5,045 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the transaction, the chief financial officer now owns 24,602 shares of the company’s stock, valued at approximately $3,521,284.26. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,591 shares of company stock worth $5,143,375 over the last three months. Company insiders own 2.39% of the company’s stock.

Plexus 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.