Geode Capital Management LLC Purchases 4,926 Shares of Plexus Corp. (NASDAQ:PLXS)

Geode Capital Management LLC raised its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 653,759 shares of the technology company’s stock after buying an additional 4,926 shares during the period. Geode Capital Management LLC owned about 2.40% of Plexus worth $89,392,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quarry LP boosted its holdings in shares of 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 purchasing an additional 195 shares during the period. Quest Partners LLC grew its position 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 purchased a new position in shares of Plexus during the third quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Plexus during the third quarter valued at $55,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Plexus by 89.4% in the third 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 in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

PLXS has been the topic of several recent research reports. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. KeyCorp started coverage on shares of Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Stifel Nicolaus boosted their price objective on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Benchmark increased their target price on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC lifted their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.25.

Plexus Stock Performance

PLXS opened at $159.75 on Friday. The firm’s 50-day moving average price is $154.56 and its 200-day moving average price is $131.12. The company has a market cap of $4.33 billion, a P/E ratio of 39.84 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 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 results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $1.44 EPS. Plexus’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Plexus Corp. will post 6.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Plexus news, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the sale, the chief financial officer now directly owns 24,602 shares in the company, valued at approximately $3,521,284.26. The trade was a 17.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Running sold 539 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the sale, the insider now owns 1,030 shares in the company, valued at $160,546.10. The trade was a 34.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,591 shares of company stock worth $5,143,375 in the last 90 days. Insiders own 2.39% of the company’s stock.

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.