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

Los Angeles Capital Management LLC lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,290 shares of the technology company’s stock after selling 170 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Plexus were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quest Partners LLC increased its position in Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Innealta Capital LLC purchased a new position in Plexus during the second quarter valued at approximately $51,000. Farther Finance Advisors LLC boosted its position in shares of Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after purchasing an additional 219 shares during the period. EntryPoint Capital LLC increased its stake in shares of Plexus by 56.2% in the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after purchasing an additional 351 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Plexus by 190.1% during the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after purchasing an additional 498 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Price Performance

Shares of Plexus stock opened at $153.13 on Friday. The firm has a market cap of $4.17 billion, a PE ratio of 38.19 and a beta of 0.87. The stock has a 50 day moving average of $139.43 and a 200 day moving average of $122.29. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $169.41.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. Plexus’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. On average, research analysts expect that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Needham & Company LLC increased their price target on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com cut Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Benchmark boosted their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, KeyCorp assumed coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $133.50.

Insider Transactions at Plexus

In related news, insider Michael J. Running sold 579 shares of Plexus stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Oliver K. Mihm sold 5,691 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total value of $950,738.46. Following the sale, the chief operating officer now owns 19,585 shares in the company, valued at approximately $3,271,870.10. This trade represents a 22.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,552 shares of company stock worth $5,500,872 in the last three months. Insiders own 2.39% of the company’s stock.

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.