Los Angeles Capital Management LLC Reduces Stake in Plexus Corp. (NASDAQ:PLXS)

Los Angeles Capital Management LLC cut its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,290 shares of the technology company’s stock after selling 170 shares during the period. Los Angeles Capital Management LLC’s holdings in Plexus were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UniSuper Management Pty Ltd purchased a new position in Plexus during the 1st quarter valued at $515,000. Vanguard Group Inc. raised its stake in Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after buying an additional 74,988 shares in the last quarter. Comerica Bank lifted its holdings in Plexus by 22.5% in the first quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock worth $7,758,000 after buying an additional 15,046 shares during the period. Harbor Capital Advisors Inc. boosted its position in Plexus by 269.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock valued at $750,000 after acquiring an additional 5,303 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Plexus by 68.4% during the 1st quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock worth $6,281,000 after acquiring an additional 26,904 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other Plexus news, CFO Patrick John Jermain sold 2,643 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $166.32, for a total transaction of $439,583.76. Following the completion of the sale, the chief financial officer now directly owns 21,959 shares in the company, valued at approximately $3,652,220.88. The trade was a 10.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Running sold 579 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $153.93, for a total value of $89,125.47. Following the completion of the transaction, the insider now owns 1,569 shares in the company, valued at approximately $241,516.17. This trade represents a 26.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,552 shares of company stock valued at $5,500,872. Corporate insiders own 2.39% of the company’s stock.

Plexus Price Performance

PLXS opened at $153.13 on Friday. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41. The stock has a 50-day moving average price of $139.43 and a 200-day moving average price of $122.29. The firm has a market cap of $4.17 billion, a PE ratio of 38.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Sell-side analysts predict that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com lowered Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Benchmark boosted their target price on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Needham & Company LLC lifted their price target on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, KeyCorp began coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Plexus has an average rating of “Hold” and an average target price of $133.50.

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.