Plexus Corp. (NASDAQ:PLXS) Position Cut by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,896 shares of the technology company's stock after selling 4,457 shares during the quarter. Moran Wealth Management LLC owned about 0.17% of Plexus worth $6,009,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLXS. American Century Companies Inc. increased its stake in Plexus by 72.2% in the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock valued at $85,128,000 after buying an additional 228,027 shares during the period. GAMMA Investing LLC increased its stake in Plexus by 19,069.1% in the 1st quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company's stock valued at $21,884,000 after buying an additional 169,906 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Plexus during the 4th quarter worth $24,747,000. JPMorgan Chase & Co. grew its stake in shares of Plexus by 146.9% during the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock worth $40,501,000 after purchasing an additional 154,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Plexus by 1,875.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock worth $21,511,000 after purchasing an additional 130,506 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Stock Down 0.5%

NASDAQ:PLXS traded down $0.62 during trading hours on Friday, hitting $135.53. The stock had a trading volume of 665,180 shares, compared to its average volume of 172,069. The company has a current ratio of 1.53, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 1-year low of $101.64 and a 1-year high of $172.89. The business has a 50 day simple moving average of $130.25 and a two-hundred day simple moving average of $137.34. The company has a market cap of $3.67 billion, a PE ratio of 26.37 and a beta of 0.81.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The business had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. During the same quarter last year, the company earned $0.94 earnings per share. The business's quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Needham & Company LLC reissued a "buy" rating and issued a $162.00 price objective (down from $172.00) on shares of Plexus in a research note on Friday, April 25th. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Plexus from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $155.67.

Insider Transactions at Plexus

In related news, CFO Patrick John Jermain sold 4,328 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total transaction of $572,551.12. Following the transaction, the chief financial officer now directly owns 25,637 shares in the company, valued at $3,391,518.73. This trade represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $130.00, for a total value of $130,000.00. Following the transaction, the chief executive officer now owns 78,714 shares in the company, valued at $10,232,820. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,032 shares of company stock valued at $1,582,222. 1.76% of the stock is currently owned by corporate 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.