Plexus Corp. (NASDAQ:PLXS) Shares Sold by Connable Office Inc.

Connable Office Inc. trimmed its holdings in Plexus Corp. (NASDAQ:PLXS) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,650 shares of the technology company’s stock after selling 159 shares during the quarter. Connable Office Inc.’s holdings in Plexus were worth $499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System lifted its position in shares of 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 acquiring an additional 100 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Plexus by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock worth $766,000 after purchasing an additional 137 shares during the period. QRG Capital Management Inc. lifted its position in Plexus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after buying an additional 152 shares in the last quarter. Farrow Financial Inc. increased its holdings in Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 155 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Plexus by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after buying an additional 170 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the sale, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This represents a 8.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Patrick John Jermain sold 2,643 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $166.32, for a total value of $439,583.76. Following the completion of the sale, the chief financial officer now directly owns 21,959 shares in the company, valued at approximately $3,652,220.88. This represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,973 shares of company stock valued at $5,411,746 in the last quarter. Company insiders own 2.39% of the company’s stock.

Plexus Price Performance

Shares of Plexus stock opened at $153.71 on Friday. The firm has a market cap of $4.19 billion, a P/E ratio of 38.33 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 Corp. has a twelve month low of $90.18 and a twelve month high of $169.41. The firm’s 50-day simple moving average is $138.77 and its 200-day simple moving average is $121.79.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $1.44 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Benchmark lifted their price target 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 cut Plexus from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. KeyCorp assumed coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Finally, Needham & Company LLC upped their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.50.

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.