Westfield Capital Management Co. LP Trims Stock Position in Plexus Corp. (NASDAQ:PLXS)

Westfield Capital Management Co. LP decreased its position in Plexus Corp. (NASDAQ:PLXS) by 94.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,200 shares of the technology company’s stock after selling 81,439 shares during the period. Westfield Capital Management Co. LP’s holdings in Plexus were worth $711,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Algert Global LLC lifted its holdings in Plexus by 1,546.5% in the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after acquiring an additional 43,009 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Plexus by 41.2% in the 3rd quarter. Cerity Partners LLC now owns 8,602 shares of the technology company’s stock valued at $1,176,000 after purchasing an additional 2,511 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Plexus by 65.9% during the 3rd quarter. Citigroup Inc. now owns 35,569 shares of the technology company’s stock worth $4,863,000 after purchasing an additional 14,129 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Plexus by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock worth $57,678,000 after purchasing an additional 2,886 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Plexus in the 3rd quarter valued at about $755,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

PLXS has been the subject of several research analyst reports. Benchmark increased their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. KeyCorp started coverage on Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Finally, Needham & Company LLC raised their price target on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

Insider Buying and Selling

In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. The trade was a 10.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the transaction, the chief operating officer now directly owns 19,585 shares in the company, valued at $3,271,870.10. This trade represents a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,091 shares of company stock valued at $5,334,885 in the last three months. 2.39% of the stock is owned by corporate insiders.

Plexus Trading Down 0.4 %

Shares of PLXS stock opened at $161.39 on Tuesday. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $169.41. The company has a 50 day moving average price of $143.00 and a 200 day moving average price of $124.30. The stock has a market capitalization of $4.37 billion, a P/E ratio of 40.25 and a beta of 0.87. 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 (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.55 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Equities research analysts predict that Plexus Corp. will post 6.14 EPS 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.