Westfield Capital Management Co. LP Boosts Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Westfield Capital Management Co. LP raised its stake in Plexus Corp. (NASDAQ:PLXS) by 108.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 298,262 shares of the technology company’s stock after purchasing an additional 155,447 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Plexus were worth $32,251,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas increased its holdings in shares of Plexus by 3.9% in the third quarter. Teacher Retirement System of Texas now owns 14,369 shares of the technology company’s stock worth $1,336,000 after purchasing an additional 535 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Plexus during the 3rd quarter worth approximately $1,554,000. Wealthspire Advisors LLC bought a new position in shares of Plexus during the 3rd quarter valued at approximately $235,000. Zions Bancorporation N.A. boosted its position in shares of Plexus by 8.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 15,374 shares of the technology company’s stock valued at $1,429,000 after acquiring an additional 1,169 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Plexus in the third quarter valued at $296,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of recent research reports. TheStreet downgraded shares of Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Stifel Nicolaus upped their target price on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC lifted their price target on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Plexus presently has an average rating of “Hold” and a consensus price target of $107.75.

Plexus Trading Up 1.7 %

PLXS stock traded up $1.91 during mid-day trading on Friday, reaching $113.33. 110,075 shares of the stock traded hands, compared to its average volume of 116,515. Plexus Corp. has a one year low of $87.21 and a one year high of $114.27. The stock has a market capitalization of $3.11 billion, a PE ratio of 31.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.64 and a current ratio of 1.51. The business has a 50-day moving average price of $99.81 and a two-hundred day moving average price of $100.22.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 EPS. Equities research analysts expect that Plexus Corp. will post 3.81 EPS for the current year.

Insider Transactions at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $102.66, for a total transaction of $230,985.00. Following the completion of the transaction, the chief accounting officer now owns 38,560 shares in the company, valued at approximately $3,958,569.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $102.66, for a total value of $230,985.00. Following the transaction, the chief accounting officer now owns 38,560 shares of the company’s stock, valued at approximately $3,958,569.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven J. Frisch sold 700 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $108.19, for a total transaction of $75,733.00. Following the completion of the sale, the insider now directly owns 56,113 shares of the company’s stock, valued at $6,070,865.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,230 shares of company stock worth $3,760,719. 2.39% of the stock is currently owned by company 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.