GAMMA Investing LLC Boosts Holdings in Plexus Corp. (NASDAQ:PLXS)

GAMMA Investing LLC boosted its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 891 shares of the technology company’s stock after acquiring an additional 131 shares during the period. GAMMA Investing LLC’s holdings in Plexus were worth $139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PLXS. Quarry LP boosted its stake in shares of Plexus by 573.5% during 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 last quarter. Quest Partners LLC lifted its holdings in Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after purchasing an additional 367 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Plexus in the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Plexus during the 3rd quarter worth about $55,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Plexus by 89.4% during 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. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of PLXS stock opened at $163.47 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $160.46 and a two-hundred day moving average of $136.85. The company has a market cap of $4.43 billion, a P/E ratio of 40.77 and a beta of 0.91. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $170.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data 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. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $1.44 EPS. Plexus’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Plexus Corp. will post 6.14 EPS for the current year.

Insider Transactions at Plexus

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the sale, the chief operating officer now owns 19,585 shares in the company, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Thursday, January 2nd. The shares were 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 approximately $11,615,241.69. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,091 shares of company stock valued at $5,377,960. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Benchmark increased their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. KeyCorp began coverage on shares of Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating for the company. Needham & Company LLC raised their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus upped their price target on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $159.00.

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.