US Bancorp DE Sells 1,548 Shares of Plexus Corp. (NASDAQ:PLXS)

US Bancorp DE lessened its holdings in Plexus Corp. (NASDAQ:PLXS) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,530 shares of the technology company’s stock after selling 1,548 shares during the quarter. US Bancorp DE’s holdings in Plexus were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PLXS. Quarry LP lifted its holdings in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. R Squared Ltd bought a new position in shares of Plexus during the 4th quarter valued at about $45,000. USA Financial Formulas bought a new position in Plexus during the 4th quarter worth approximately $56,000. Point72 DIFC Ltd bought a new position in Plexus during the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Plexus in the 3rd quarter worth approximately $55,000. Institutional investors own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of PLXS opened at $124.76 on Friday. The business has a fifty day moving average of $146.94 and a 200 day moving average of $145.69. Plexus Corp. has a one year low of $90.18 and a one year high of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The firm has a market capitalization of $3.37 billion, a P/E ratio of 28.95 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released 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%. As a group, sell-side analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Stifel Nicolaus assumed coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective for the company. Finally, StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Insider Buying and Selling

In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $140.00, for a total transaction of $280,000.00. Following the transaction, the chief executive officer now owns 87,665 shares of the company’s stock, valued at approximately $12,273,100. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Running sold 1,250 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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 directly owns 1,276 shares in the company, valued at approximately $176,879.12. This trade represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,458 shares of company stock worth $2,786,515. Corporate insiders own 1.76% of the company’s stock.

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.