Algert Global LLC Buys 43,009 Shares of Plexus Corp. (NASDAQ:PLXS)

Algert Global LLC grew its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 1,546.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,790 shares of the technology company’s stock after buying an additional 43,009 shares during the quarter. Algert Global LLC’s holdings in Plexus were worth $6,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC grew its stake in shares of Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after buying an additional 367 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Plexus during the second quarter valued at about $51,000. Farther Finance Advisors LLC grew its holdings in Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after acquiring an additional 219 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Plexus by 85.0% in the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after acquiring an additional 305 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after acquiring an additional 498 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Plexus news, insider Michael J. Running sold 539 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the transaction, the insider now owns 1,030 shares of the company’s stock, valued at approximately $160,546.10. This trade represents a 34.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patrick John Jermain sold 2,643 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $166.32, for a total transaction of $439,583.76. Following the transaction, the chief financial officer now directly owns 21,959 shares of the company’s stock, valued at $3,652,220.88. This represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,091 shares of company stock valued at $5,334,885 over the last three months. Corporate insiders own 2.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Benchmark increased their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Needham & Company LLC increased their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, KeyCorp assumed coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Plexus has a consensus rating of “Moderate Buy” and an average target price of $133.50.

Plexus Price Performance

PLXS stock opened at $162.01 on Friday. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41. The company has a market cap of $4.39 billion, a P/E ratio of 40.40 and a beta of 0.87. The firm has a 50-day moving average of $143.00 and a 200 day moving average of $124.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. Plexus’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Plexus Corp. will post 6.14 EPS for the current year.

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.