Rhumbline Advisers Sells 2,285 Shares of Plexus Corp. (NASDAQ:PLXS)

Rhumbline Advisers cut its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,794 shares of the technology company's stock after selling 2,285 shares during the period. Rhumbline Advisers owned about 0.30% of Plexus worth $10,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC acquired a new position in shares of Plexus in the 4th quarter worth approximately $28,000. Aquatic Capital Management LLC lifted its stake in shares of Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock valued at $50,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc increased its position in shares of Plexus by 1,000.0% in the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock valued at $61,000 after buying an additional 430 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Plexus by 521.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the technology company's stock worth $122,000 after purchasing an additional 652 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Plexus

In other Plexus news, CFO Patrick John Jermain sold 4,328 shares of the company's 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 transaction, the chief financial officer now directly owns 25,637 shares in the company, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their position. The sale 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 stock in a transaction 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 sale, the chief executive officer now owns 75,214 shares of the company's stock, 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. Over the last three months, insiders sold 12,032 shares of company stock worth $1,582,222. 1.76% of the stock is currently owned by insiders.

Plexus Price Performance

Shares of NASDAQ:PLXS traded down $3.16 during midday trading on Friday, hitting $130.22. The stock had a trading volume of 122,037 shares, compared to its average volume of 169,664. 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 company has a market capitalization of $3.53 billion, a P/E ratio of 30.21 and a beta of 0.81. The company's 50-day moving average price is $127.84 and its 200-day moving average price is $139.60. Plexus Corp. has a fifty-two week low of $100.96 and a fifty-two week high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last issued 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 business had revenue of $980.17 million during 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%. The firm's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, equities research analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

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.