Prudential Financial Inc. Has $12.74 Million Stock Position in Plexus Corp. (NASDAQ:PLXS)

Prudential Financial Inc. grew its holdings in Plexus Corp. (NASDAQ:PLXS) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,412 shares of the technology company’s stock after purchasing an additional 667 shares during the quarter. Prudential Financial Inc. owned about 0.30% of Plexus worth $12,739,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in shares of Plexus during the 4th quarter valued at about $107,489,000. Stifel Financial Corp acquired a new stake in Plexus in the third quarter worth about $332,000. Barclays PLC grew its holdings in Plexus by 139.4% during the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after acquiring an additional 28,406 shares during the period. Verition Fund Management LLC bought a new stake in Plexus in the third quarter valued at about $683,000. Finally, FMR LLC increased its stake in shares of Plexus by 614.2% in the 3rd quarter. FMR LLC now owns 13,941 shares of the technology company’s stock valued at $1,906,000 after acquiring an additional 11,989 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLXS has been the topic of a number of research reports. Stifel Nicolaus began coverage on shares of Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target on the stock. Needham & Company LLC increased their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Benchmark reiterated 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Insider Activity

In related news, insider Michael J. Running sold 1,250 shares of the firm’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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total transaction of $234,585.00. Following the sale, the chief executive officer now owns 74,271 shares in the company, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,458 shares of company stock worth $2,786,515. Insiders own 1.76% of the company’s stock.

Plexus Stock Performance

NASDAQ:PLXS opened at $129.99 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. The firm has a market capitalization of $3.51 billion, a PE ratio of 30.16 and a beta of 0.90. Plexus Corp. has a twelve month low of $92.72 and a twelve month high of $172.89. The stock’s 50-day simple moving average is $137.39 and its 200 day simple moving average is $145.65.

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 net margin of 3.03% and a return on equity of 10.36%. On average, analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

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.