Crossmark Global Holdings Inc. Trims Stock Position in Plexus Corp. (NASDAQ:PLXS)

Crossmark Global Holdings Inc. decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 48.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,069 shares of the technology company’s stock after selling 1,908 shares during the period. Crossmark Global Holdings Inc.’s holdings in Plexus were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP grew its position in shares of Plexus by 573.5% during the third 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. USA Financial Formulas bought a new position in shares of Plexus in the 4th quarter valued at about $56,000. Point72 DIFC Ltd bought a new stake in shares of Plexus in the 3rd quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus during the third quarter worth $55,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after acquiring an additional 219 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLXS has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC boosted their price objective on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus lifted their price target on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, Benchmark reiterated a “buy” rating and issued 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.33.

Insider Buying and Selling at Plexus

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $3,271,870.10. The trade was a 22.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction 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 trade represents a 8.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,046 shares of company stock worth $4,655,870 in the last ninety days. 1.76% of the stock is owned by insiders.

Plexus Stock Performance

Shares of PLXS stock opened at $152.49 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $172.89. The business’s 50 day moving average is $162.28 and its two-hundred day moving average is $142.21. The company has a market capitalization of $4.13 billion, a P/E ratio of 35.38 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.43%. Analysts expect that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Plexus 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.