Rhumbline Advisers Sells 1,859 Shares of Plexus Corp. (NASDAQ:PLXS)

Rhumbline Advisers cut its position in Plexus Corp. (NASDAQ:PLXS) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,079 shares of the technology company’s stock after selling 1,859 shares during the period. Rhumbline Advisers’ holdings in Plexus were worth $12,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after acquiring an additional 84 shares during the period. Glenmede Trust Co. NA grew its position in shares of 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 grew its position in shares of Plexus by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock valued at $139,000 after acquiring an additional 131 shares during the period. Farrow Financial Inc. boosted its holdings in shares of 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 buying an additional 155 shares during the period. Finally, Quarry LP boosted its holdings in shares of Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Stock Performance

Shares of PLXS stock opened at $137.34 on Friday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 31.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The firm’s 50-day simple moving average is $153.12 and its two-hundred day simple moving average is $145.05. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $172.89.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 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, equities analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Buying and Selling at Plexus

In other news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $140.00, for a total value of $280,000.00. Following the transaction, the chief executive officer now owns 87,665 shares in the company, valued at $12,273,100. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the transaction, the chief accounting officer now owns 29,501 shares in the company, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,208 shares of company stock valued at $2,613,240. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.