Bridge City Capital LLC Trims Position in Plexus Corp. (NASDAQ:PLXS)

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

Other institutional investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new stake in shares of Plexus in the first quarter worth about $2,588,000. Sendero Wealth Management LLC raised its position in shares of Plexus by 17.3% during the 1st quarter. Sendero Wealth Management LLC now owns 5,478 shares of the technology company's stock valued at $702,000 after acquiring an additional 809 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Plexus by 12.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,867 shares of the technology company's stock valued at $495,000 after buying an additional 422 shares during the period. GAMMA Investing LLC grew its holdings in shares of Plexus by 19,069.1% during the first quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company's stock valued at $21,884,000 after purchasing an additional 169,906 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after buying an additional 430 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Price Performance

Plexus stock opened at $132.86 on Monday. The stock's 50 day moving average is $126.11 and its 200-day moving average is $140.29. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 30.83 and a beta of 0.81. Plexus Corp. has a 12 month low of $100.96 and a 12 month high of $172.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data 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. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The business had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. During the same period last year, the firm posted $0.94 earnings per share. Plexus's revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PLXS shares. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a research note on Thursday, April 24th. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $155.67.

Insider Buying and Selling

In related news, CFO Patrick John Jermain sold 4,328 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the sale, the chief financial officer now directly owns 25,637 shares of the company's stock, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $129.87, for a total value of $194,805.00. Following the sale, the chief executive officer now owns 75,214 shares in the company, valued at approximately $9,768,042.18. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,032 shares of company stock valued at $1,582,222 over the last quarter. Corporate insiders own 1.76% of the company's stock.

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.

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