Plexus Corp. (NASDAQ:PLXS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its position in Plexus Corp. (NASDAQ:PLXS) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,079 shares of the technology company’s stock after selling 1,859 shares during the quarter. Rhumbline Advisers owned 0.30% of Plexus worth $12,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in Plexus by 12.1% during the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after buying an additional 84 shares during the last quarter. Glenmede Trust Co. NA increased its position in Plexus by 4.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,453 shares of the technology company’s stock valued at $335,000 after acquiring an additional 104 shares during the period. GAMMA Investing LLC increased its position in Plexus by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after purchasing an additional 131 shares during the period. Farrow Financial Inc. increased its position in Plexus by 0.7% during the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after purchasing an additional 155 shares during the period. Finally, Quarry LP increased its position 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 during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the completion of the sale, the chief executive officer now directly owns 87,665 shares in the company, valued at $12,273,100. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick John Jermain sold 3,361 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $144.57, for a total transaction of $485,899.77. Following the transaction, the chief financial officer now directly owns 20,745 shares of the company’s stock, valued at $2,999,104.65. This represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,208 shares of company stock worth $2,613,240 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $137.34 on Friday. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 31.87 and a beta of 0.89. The stock’s 50 day moving average price is $153.12 and its 200 day moving average price is $145.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70.

Plexus (NASDAQ:PLXS) last announced its 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%. Equities research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLXS has been the subject of several research analyst reports. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC lifted their target price on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Benchmark reissued a “buy” rating and issued a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus started coverage on Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.00.

About Plexus

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.