Plexus Corp. (NASDAQ:PLXS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in Plexus Corp. (NASDAQ:PLXS) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,300 shares of the technology company’s stock after selling 2,311 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Plexus were worth $2,081,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quarry LP lifted its holdings in Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. R Squared Ltd acquired a new position in shares of Plexus during the 4th quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new position in shares of Plexus during the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Plexus during the 3rd quarter worth approximately $55,000. Finally, USA Financial Formulas acquired a new position in shares of Plexus during the 4th quarter worth approximately $56,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Stock Down 1.7 %

Shares of PLXS opened at $137.34 on Friday. 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 one year low of $90.18 and a one year high of $172.89. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 31.87 and a beta of 0.89. The stock has a 50 day moving average price of $153.12 and a 200 day moving average price of $145.05.

Plexus (NASDAQ:PLXS) last issued its quarterly 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 return on equity of 10.36% and a net margin of 3.03%. Equities research analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price for the company. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark reaffirmed a “buy” rating and set a $165.00 target price on shares of Plexus in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC upped their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Insider Buying and Selling

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. This represents a 10.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the sale, the chief executive officer now owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,208 shares of company stock worth $2,613,240. 1.76% of the stock is owned by corporate insiders.

Plexus Company 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.