JPMorgan Chase & Co. Acquires 154,003 Shares of Plexus Corp. (NASDAQ:PLXS)

JPMorgan Chase & Co. increased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 146.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 258,824 shares of the technology company’s stock after acquiring an additional 154,003 shares during the quarter. JPMorgan Chase & Co.’s holdings in Plexus were worth $40,501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Plexus by 12.1% during the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after purchasing an additional 84 shares in the last quarter. Tocqueville Asset Management L.P. lifted its position in Plexus by 1.8% during the fourth quarter. Tocqueville Asset Management L.P. now owns 5,907 shares of the technology company’s stock worth $924,000 after purchasing an additional 107 shares during the period. GAMMA Investing LLC grew its stake in Plexus by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after buying an additional 131 shares in the last quarter. TD Private Client Wealth LLC bought a new position in Plexus in the 4th quarter valued at about $28,000. Finally, Quarry LP raised its position in shares of 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 buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Trading Down 3.3 %

Shares of Plexus stock opened at $112.24 on Monday. The firm’s 50 day moving average is $132.60 and its 200 day moving average is $145.91. The firm has a market capitalization of $3.03 billion, a PE ratio of 26.04 and a beta of 0.90. Plexus Corp. has a 1 year low of $92.72 and a 1 year high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

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

Insiders Place Their Bets

In related news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.96, for a total value of $205,440.00. Following the sale, the chief executive officer now owns 86,932 shares of the company’s stock, valued at $11,906,206.72. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction dated 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 owns 1,276 shares in the company, valued at $176,879.12. This trade represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,958 shares of company stock valued at $2,551,930 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLXS. Benchmark reissued a “buy” rating and issued a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Stifel Nicolaus began coverage on Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 target price on the stock. Finally, Needham & Company LLC boosted their price target on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two 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 presently has an average rating of “Moderate Buy” and an average target price of $163.00.

About Plexus

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.