Tidal Investments LLC Has $782,000 Stake in Plexus Corp. (NASDAQ:PLXS)

Tidal Investments LLC increased its position in shares of Plexus Corp. (NASDAQ:PLXS) by 102.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,723 shares of the technology company’s stock after purchasing an additional 2,899 shares during the period. Tidal Investments LLC’s holdings in Plexus were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PLXS. Quarry LP increased its position in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares during the period. Quest Partners LLC increased its position in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the period. Innealta Capital LLC bought a new position in Plexus during the second quarter worth about $51,000. Point72 DIFC Ltd acquired a new stake in Plexus in the 3rd quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Plexus in the 3rd quarter valued at about $55,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This represents a 8.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $143.13, for a total value of $722,090.85. Following the sale, the chief financial officer now directly owns 24,602 shares in the company, valued at $3,521,284.26. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock valued at $5,143,375 in the last quarter. Insiders own 2.39% of the company’s stock.

Plexus Trading Down 0.4 %

Shares of PLXS opened at $159.07 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $170.07. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 39.67 and a beta of 0.90. The business’s fifty day moving average is $155.52 and its 200-day moving average is $131.66.

Plexus (NASDAQ:PLXS) last released its 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. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities analysts anticipate that Plexus Corp. will post 6.14 EPS for the current fiscal 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.