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

Tidal Investments LLC grew its stake in Plexus Corp. (NASDAQ:PLXS) by 102.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,723 shares of the technology company’s stock after buying 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.

A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its position in Plexus by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock valued at $1,424,000 after purchasing an additional 100 shares during the period. Bank of New York Mellon Corp increased its position in shares of Plexus by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock worth $46,772,000 after buying an additional 31,099 shares during the period. Speece Thorson Capital Group Inc. raised its stake in Plexus by 197.1% during the second quarter. Speece Thorson Capital Group Inc. now owns 50,498 shares of the technology company’s stock worth $5,210,000 after buying an additional 33,501 shares during the last quarter. Innealta Capital LLC acquired a new position in Plexus in the second quarter valued at $51,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Plexus by 8.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after acquiring an additional 87,574 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at $3,271,870.10. The trade was a 22.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Running sold 539 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the sale, the insider now owns 1,030 shares of the company’s stock, valued at approximately $160,546.10. The trade was a 34.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,591 shares of company stock worth $5,143,375 in the last quarter. Insiders own 2.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLXS. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Benchmark lifted their target price on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Stifel Nicolaus increased their price target on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Needham & Company LLC lifted their price objective on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.25.

Plexus Trading Down 0.4 %

Shares of Plexus stock 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 stock has a 50 day moving average price of $155.52 and a two-hundred day moving average price of $131.66. The stock has a market capitalization of $4.31 billion, a PE ratio of 39.67 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.44 EPS. Plexus’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Plexus Corp. will post 6.14 earnings per share 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.