Silvercrest Asset Management Group LLC Sells 32,223 Shares of Plexus Corp. (NASDAQ:PLXS)

Silvercrest Asset Management Group LLC lessened its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 579,459 shares of the technology company's stock after selling 32,223 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 2.14% of Plexus worth $90,674,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Plexus by 140.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 975 shares of the technology company's stock worth $153,000 after buying an additional 570 shares during the period. Point72 Asset Management L.P. purchased a new position in Plexus during the 4th quarter valued at about $311,000. ProShare Advisors LLC raised its holdings in shares of Plexus by 42.6% in the 4th quarter. ProShare Advisors LLC now owns 8,088 shares of the technology company's stock valued at $1,266,000 after purchasing an additional 2,415 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Plexus by 6.6% in the 4th quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company's stock worth $55,012,000 after purchasing an additional 21,911 shares during the period. Finally, Millennium Management LLC boosted its position in Plexus by 76.0% during the 4th quarter. Millennium Management LLC now owns 123,212 shares of the technology company's stock valued at $19,280,000 after acquiring an additional 53,204 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Trading Up 0.5%

NASDAQ PLXS opened at $132.70 on Friday. Plexus Corp. has a 1 year low of $100.96 and a 1 year high of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The company has a market capitalization of $3.59 billion, a PE ratio of 30.79 and a beta of 0.80. The company has a fifty day moving average of $124.67 and a 200 day moving average of $143.12.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.12. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The firm had revenue of $980.17 million for the quarter, compared to the consensus estimate of $980.07 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company's revenue was up 1.4% compared to the same quarter last year. Research analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Benchmark reduced their target price on shares of Plexus from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and set a $162.00 price objective (down previously from $172.00) on shares of Plexus in a research note on Friday, April 25th. Finally, Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research note on Thursday, April 24th. Two research 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, Plexus presently has an average rating of "Moderate Buy" and a consensus price target of $155.67.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the completion of the sale, the chief executive officer now owns 87,665 shares in the company, valued at $12,273,100. This trade represents a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randy J. Martinez sold 887 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $140.52, for a total value of $124,641.24. Following the completion of the transaction, the director now directly owns 4,831 shares in the company, valued at approximately $678,852.12. This trade represents a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,137 shares of company stock valued at $577,916 in the last 90 days. 1.76% of the stock is owned by insiders.

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.

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