Resona Asset Management Co. Ltd. Invests $773,000 in Plexus Corp. (NASDAQ:PLXS)

Resona Asset Management Co. Ltd. purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,937 shares of the technology company’s stock, valued at approximately $773,000.

Several other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC purchased a new stake in shares of Plexus in the fourth quarter valued at about $28,000. Quarry LP increased its position in Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. R Squared Ltd purchased a new stake in Plexus during the 4th quarter valued at approximately $45,000. Nomura Asset Management Co. Ltd. lifted its position in Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Plexus in the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of Plexus stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. The trade was a 10.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now directly owns 1,276 shares in the company, valued at approximately $176,879.12. The trade was a 49.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,958 shares of company stock worth $2,551,930. 1.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus initiated coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price target for the company. Needham & Company LLC upped their price objective on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Benchmark reissued a “buy” rating and set a $165.00 price target on shares of Plexus in a report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Plexus Stock Performance

NASDAQ:PLXS opened at $119.18 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a fifty-two week low of $92.72 and a fifty-two week high of $172.89. The firm’s fifty day simple moving average is $129.55 and its 200-day simple moving average is $145.11. The stock has a market cap of $3.22 billion, a PE ratio of 27.65 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) 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%. Analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

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.