Plexus Corp. (NASDAQ:PLXS) is Profit Investment Management LLC’s 4th Largest Position

by · The Markets Daily

Profit Investment Management LLC lessened its position in Plexus Corp. (NASDAQ:PLXS – Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,845 shares of the technology company’s stock after selling 17,197 shares during the quarter. Plexus makes up about 2.8% of Profit Investment Management LLC’s holdings, making the stock its 4th biggest holding. Profit Investment Management LLC’s holdings in Plexus were worth $3,533,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PLXS. Quest Partners LLC lifted its position in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Plexus in the 2nd quarter valued at approximately $51,000. EntryPoint Capital LLC lifted its position in shares of Plexus by 56.2% in the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after acquiring an additional 351 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Plexus by 190.1% in the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after acquiring an additional 498 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Plexus by 12.0% in the 2nd quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock worth $176,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLXS. Benchmark increased their target price on shares of Plexus from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC increased their target price on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.25.

Check Out Our Latest Stock Report on PLXS

Insider Transactions at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the transaction, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,769 shares of company stock worth $2,731,834 in the last quarter. 2.39% of the stock is owned by company insiders.

Plexus Price Performance

Shares of NASDAQ PLXS traded up $1.57 during trading on Friday, reaching $135.43. The company had a trading volume of 6,630 shares, compared to its average volume of 127,195. Plexus Corp. has a 52 week low of $87.21 and a 52 week high of $138.20. The stock has a market cap of $3.69 billion, a PE ratio of 33.72 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. The business’s 50 day moving average price is $126.62 and its 200-day moving average price is $112.81.

Plexus (NASDAQ:PLXS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The company had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter in the previous year, the company earned $1.32 EPS. Plexus’s revenue was down 6.0% on a year-over-year basis. Analysts expect that Plexus Corp. will post 3.74 earnings per share for the current year.

About Plexus

(Free Report)

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.

Further Reading

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