Rhumbline Advisers Has $10.22 Million Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Rhumbline Advisers lowered its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLXS. GAMMA Investing LLC lifted its position 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 purchasing an additional 169,906 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Plexus by 1,000.0% during the first 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 period. Wealth Enhancement Advisory Services LLC grew its holdings in Plexus by 22.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,865 shares of the technology company's stock worth $292,000 after buying an additional 347 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Plexus by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,506 shares of the technology company's stock valued at $11,033,000 after acquiring an additional 10,717 shares during the period. Finally, Squarepoint Ops LLC raised its stake in Plexus by 1.1% during the 4th quarter. Squarepoint Ops LLC now owns 13,846 shares of the technology company's stock valued at $2,167,000 after acquiring an additional 148 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Price Performance

Shares of NASDAQ:PLXS traded down $0.75 during trading hours on Wednesday, hitting $134.63. 150,776 shares of the company's stock traded hands, compared to its average volume of 169,088. The company's fifty day simple moving average is $126.60 and its two-hundred day simple moving average is $140.06. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 31.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. Plexus Corp. has a 52 week low of $100.96 and a 52 week high of $172.89.

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

Insider Buying and Selling at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer now owns 26,133 shares of the company's stock, valued at $3,455,305.26. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Patrick John Jermain sold 4,328 shares of Plexus stock in a transaction 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 transaction, the chief financial officer now owns 25,637 shares in the company, valued at $3,391,518.73. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,032 shares of company stock valued at $1,582,222. 1.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.