Plexus Corp. (NASDAQ:PLXS) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its holdings in Plexus Corp. (NASDAQ:PLXS) by 44.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,262 shares of the technology company’s stock after selling 16,450 shares during the period. First Eagle Investment Management LLC’s holdings in Plexus were worth $3,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Plexus in the 4th quarter valued at about $1,380,000. HighTower Advisors LLC lifted its holdings in Plexus by 10.3% in the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the technology company’s stock valued at $466,000 after acquiring an additional 278 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Plexus by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,140 shares of the technology company’s stock valued at $1,117,000 after acquiring an additional 1,284 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Plexus in the 4th quarter valued at about $2,140,000. Finally, AlphaQuest LLC acquired a new stake in Plexus in the 4th quarter valued at about $1,516,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLXS shares. Needham & Company LLC boosted their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Stifel Nicolaus started coverage on Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Benchmark restated a “buy” rating and set a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Plexus Price Performance

Shares of PLXS opened at $124.21 on Friday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 28.82 and a beta of 0.90. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The business’s 50-day moving average is $143.52 and its 200-day moving average is $145.55.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Equities research analysts expect that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Frank Zycinski sold 1,200 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $140.84, for a total value of $169,008.00. Following the transaction, the insider now owns 723 shares in the company, valued at approximately $101,827.32. This represents a 62.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the transaction, the chief executive officer now owns 74,271 shares in the company, valued at $11,615,241.69. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,458 shares of company stock worth $2,786,515. Insiders own 1.76% of the company’s stock.

Plexus Company 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.