Isthmus Partners LLC Sells 443 Shares of Plexus Corp. (NASDAQ:PLXS)

Isthmus Partners LLC reduced its stake in Plexus Corp. (NASDAQ:PLXS) by 1.6% during the first quarter, Holdings Channel.com reports. The firm owned 27,423 shares of the technology company’s stock after selling 443 shares during the quarter. Isthmus Partners LLC’s holdings in Plexus were worth $3,514,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new stake in Plexus in the fourth quarter worth about $2,277,000. Raymond James Financial Inc. bought a new position in shares of Plexus during the 4th quarter valued at approximately $15,892,000. Amundi increased its holdings in Plexus by 192.1% in the 4th quarter. Amundi now owns 14,000 shares of the technology company’s stock worth $2,289,000 after acquiring an additional 9,207 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Plexus by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,140 shares of the technology company’s stock worth $1,117,000 after acquiring an additional 1,284 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in Plexus by 10.3% during the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the technology company’s stock worth $466,000 after acquiring an additional 278 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLXS. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research report on Thursday, April 24th. Wall Street Zen raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a report on Monday, June 30th. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $162.00 price target (down from $172.00) on shares of Plexus in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.67.

Plexus Trading Down 1.6%

Shares of PLXS opened at $133.93 on Friday. The firm has a market cap of $3.63 billion, a P/E ratio of 26.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.71. Plexus Corp. has a 1 year low of $103.43 and a 1 year high of $172.89. The company has a 50 day simple moving average of $132.65 and a two-hundred day simple moving average of $135.38.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.12. The company had revenue of $980.17 million during the quarter, compared to analysts’ expectations of $980.07 million. Plexus had a net margin of 3.60% and a return on equity of 11.17%. Plexus’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $0.94 earnings per share. On average, equities analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $129.87, for a total transaction of $194,805.00. Following the completion of the transaction, the chief executive officer directly owned 75,214 shares of the company’s stock, valued at approximately $9,768,042.18. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Running sold 646 shares of Plexus stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $130.05, for a total value of $84,012.30. Following the completion of the sale, the insider directly owned 630 shares in the company, valued at approximately $81,931.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,032 shares of company stock valued at $1,582,222. 1.76% of the stock is owned by insiders.

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.