Plexus Corp. (NASDAQ:PLXS) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 579,459 shares of the technology company's stock after selling 32,223 shares during the period. Silvercrest Asset Management Group LLC owned about 2.14% of Plexus worth $90,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. TD Private Client Wealth LLC purchased a new position in Plexus in the 4th quarter valued at about $28,000. Aquatic Capital Management LLC raised its position in shares of Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after buying an additional 134 shares during the last quarter. R Squared Ltd purchased a new position in shares of Plexus during the fourth quarter valued at approximately $45,000. Nomura Asset Management Co. Ltd. boosted its position in Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in Plexus in the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Stifel Nicolaus set a $145.00 price target on Plexus in a research note on Thursday, April 24th. Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of Plexus in a research report on Friday, May 16th. Finally, Needham & Company LLC restated a "buy" rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.67.

Plexus Trading Down 1.0%

Shares of PLXS traded down $1.36 during mid-day trading on Wednesday, reaching $130.81. The company had a trading volume of 29,715 shares, compared to its average volume of 168,054. Plexus Corp. has a fifty-two week low of $100.96 and a fifty-two week high of $172.89. The firm has a fifty day simple moving average of $125.33 and a 200-day simple moving average of $142.84. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 30.35 and a beta of 0.80. 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 posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.12. The firm had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, sell-side analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling at Plexus

In related news, CFO Patrick John Jermain sold 4,328 shares of the stock in a transaction dated Thursday, May 15th. The stock was 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 owns 25,637 shares of the company's stock, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael J. Running sold 1,250 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the sale, the insider now directly owns 1,276 shares of the company's stock, valued at $176,879.12. The trade was a 49.49% decrease in their position. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by corporate 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.