New York State Teachers Retirement System Sells 1,558 Shares of Plexus Corp. (NASDAQ:PLXS)

New York State Teachers Retirement System lowered its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,444 shares of the technology company’s stock after selling 1,558 shares during the period. New York State Teachers Retirement System’s holdings in Plexus were worth $6,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings 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 buying an additional 195 shares during the last quarter. R Squared Ltd bought a new position in Plexus during the fourth quarter worth about $45,000. Point72 DIFC Ltd bought a new position in Plexus during the third quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Plexus during the third quarter worth about $55,000. Finally, USA Financial Formulas bought a new position in Plexus during the fourth quarter worth about $56,000. Institutional investors own 94.45% of the company’s stock.

Plexus Trading Up 0.7 %

NASDAQ PLXS opened at $140.08 on Thursday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 32.50 and a beta of 0.89. The stock’s 50 day moving average price is $154.27 and its two-hundred day moving average price is $144.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $172.89.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. As a group, analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLXS. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Needham & Company LLC lifted their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Stifel Nicolaus began coverage on Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Plexus presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Insiders Place Their Bets

In other Plexus news, insider Frank Zycinski sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $140.84, for a total transaction of $169,008.00. Following the transaction, the insider now owns 723 shares of the company’s stock, valued at $101,827.32. The trade was a 62.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction that occurred 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 directly owns 74,271 shares in the company, valued at $11,615,241.69. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,321 shares of company stock valued at $2,208,599 in the last 90 days. 1.76% of the stock is currently owned by insiders.

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.