Summit Trail Advisors LLC Raises Stake in Plexus Corp. (NASDAQ:PLXS)

Summit Trail Advisors LLC lifted its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 15.3% during the 2nd quarter, Holdings Channel reports. The fund owned 4,761 shares of the technology company’s stock after buying an additional 631 shares during the quarter. Summit Trail Advisors LLC’s holdings in Plexus were worth $491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PLXS. Norges Bank purchased a new position in Plexus during the fourth quarter worth about $19,533,000. Trexquant Investment LP purchased a new stake in shares of Plexus during the 4th quarter valued at approximately $915,000. Parallel Advisors LLC lifted its holdings in Plexus by 72.3% in the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after acquiring an additional 146 shares during the last quarter. TFO Wealth Partners LLC grew its position in Plexus by 86,050.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,723 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,721 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its stake in Plexus by 294.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 9,670 shares of the technology company’s stock worth $1,046,000 after acquiring an additional 7,221 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Benchmark upped their price target on Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC upped their target price on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Plexus presently has an average rating of “Hold” and an average target price of $124.00.

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares in the company, valued at $11,118,430. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the sale, the chief executive officer now directly owns 93,682 shares in the company, valued at $12,028,768.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The disclosure for this sale can be found here. Insiders have sold a total of 21,769 shares of company stock valued at $2,731,834 in the last ninety days. Company insiders own 2.39% of the company’s stock.

Plexus Trading Down 0.2 %

Shares of NASDAQ PLXS opened at $130.77 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.58 billion, a PE ratio of 36.12 and a beta of 0.89. Plexus Corp. has a twelve month low of $87.21 and a twelve month high of $132.68. The stock has a fifty day simple moving average of $123.33 and a 200-day simple moving average of $109.25.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. The company had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. Plexus had a return on equity of 9.64% and a net margin of 2.82%. Plexus’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, equities analysts forecast that Plexus Corp. will post 3.74 earnings per share for the current 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.