Jane Street Group LLC Has $4.47 Million Stake in Plexus Corp. (NASDAQ:PLXS)

Jane Street Group LLC reduced its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,662 shares of the technology company’s stock after selling 10,671 shares during the period. Jane Street Group LLC owned 0.12% of Plexus worth $4,465,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PLXS. Quarry LP grew its stake in Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after purchasing an additional 195 shares during the period. Quest Partners LLC boosted its holdings in shares of Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Plexus during the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Plexus in the 3rd quarter valued at $55,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after acquiring an additional 219 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Plexus

In related news, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the completion of the sale, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. This trade represents a 22.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction on Monday, October 28th. The stock was sold at an average price of $143.13, for a total value of $722,090.85. Following the sale, the chief financial officer now owns 24,602 shares in the company, valued at $3,521,284.26. This trade represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,591 shares of company stock worth $5,143,375. Insiders own 2.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PLXS. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Benchmark raised their target price on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC upped their price target on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus raised their price objective on Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, KeyCorp began coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.25.

Plexus Stock Down 0.5 %

PLXS stock opened at $164.50 on Wednesday. The stock’s 50 day moving average is $153.48 and its 200-day moving average is $130.54. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $170.07. The firm has a market capitalization of $4.46 billion, a PE ratio of 41.02 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The firm 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. Sell-side analysts expect that Plexus Corp. will post 6.14 EPS for the current fiscal year.

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.