Bridge City Capital LLC Sells 8,417 Shares of Plexus Corp. (NASDAQ:PLXS)

Bridge City Capital LLC decreased its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 31.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,282 shares of the technology company's stock after selling 8,417 shares during the period. Bridge City Capital LLC owned approximately 0.07% of Plexus worth $2,342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PLXS. Allspring Global Investments Holdings LLC bought a new stake in Plexus during the 4th quarter valued at approximately $783,000. Congress Asset Management Co. lifted its stake in shares of Plexus by 1.8% in the 4th quarter. Congress Asset Management Co. now owns 16,230 shares of the technology company's stock valued at $2,540,000 after purchasing an additional 281 shares during the period. Principal Financial Group Inc. boosted its position in shares of Plexus by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 138,367 shares of the technology company's stock valued at $21,652,000 after purchasing an additional 4,445 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Plexus by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 6,937 shares of the technology company's stock worth $1,086,000 after purchasing an additional 700 shares during the period. Finally, Olympiad Research LP purchased a new stake in Plexus in the fourth quarter worth $322,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.77, for a total value of $65,385.00. Following the completion of the sale, the director now owns 9,365 shares of the company's stock, valued at $1,224,661.05. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $132.22, for a total value of $272,108.76. Following the completion of the transaction, the chief accounting officer now directly owns 26,133 shares in the company, valued at $3,455,305.26. The trade was a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock valued at $1,582,222 over the last 90 days. Corporate insiders own 1.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Benchmark restated a "buy" rating and set a $160.00 target price on shares of Plexus in a report on Wednesday, June 4th. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a research note on Thursday, April 24th. Finally, Needham & Company LLC restated a "buy" rating and issued a $162.00 price objective (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Plexus presently has a consensus rating of "Moderate Buy" and an average target price of $155.67.

Plexus Stock Down 0.9%

Shares of NASDAQ PLXS traded down $1.25 during trading on Thursday, reaching $133.38. The company had a trading volume of 206,324 shares, compared to its average volume of 169,237. Plexus Corp. has a 12-month low of $100.96 and a 12-month high of $172.89. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The business's 50-day moving average is $127.05 and its 200 day moving average is $140.03. The stock has a market cap of $3.61 billion, a PE ratio of 30.95 and a beta of 0.81.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.54 by $0.12. The company had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. Plexus had a net margin of 3.03% and a return on equity of 10.36%. Plexus's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. As a group, equities analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

About Plexus

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.