Phocas Financial Corp. Reduces Stock Position in Plexus Corp. (NASDAQ:PLXS)

Phocas Financial Corp. decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 30.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,805 shares of the technology company’s stock after selling 18,866 shares during the period. Phocas Financial Corp. owned about 0.16% of Plexus worth $5,852,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC lifted its stake in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the period. Innealta Capital LLC purchased a new position in shares of Plexus during the second quarter valued at $51,000. Farther Finance Advisors LLC boosted its holdings in shares of Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after purchasing an additional 219 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after acquiring an additional 351 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Plexus by 190.1% in the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at approximately $5,093,223.37. This represents a 8.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the transaction, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. This represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,552 shares of company stock worth $5,250,872 in the last quarter. 2.39% of the stock is currently owned by corporate insiders.

Plexus Stock Up 2.0 %

Plexus stock opened at $156.21 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $140.17 and a 200 day simple moving average of $122.81. The company has a market cap of $4.25 billion, a P/E ratio of 38.96 and a beta of 0.87. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $169.41.

Plexus (NASDAQ:PLXS) last issued 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on PLXS shares. Needham & Company LLC increased their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Benchmark boosted their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Finally, StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research note on Monday. Three equities research 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 an average rating of “Moderate Buy” and an average 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.