Plexus Corp. (NASDAQ:PLXS) Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 31.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,282 shares of the technology company’s stock after selling 8,417 shares during the period. Bridge City Capital LLC’s holdings in Plexus were worth $2,342,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLXS. American Century Companies Inc. lifted its stake in Plexus by 72.2% in the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock valued at $85,128,000 after buying an additional 228,027 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Plexus by 6.6% in the fourth quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company’s stock valued at $55,012,000 after acquiring an additional 21,911 shares during the last quarter. Northern Trust Corp boosted its stake in Plexus by 10.0% during the fourth quarter. Northern Trust Corp now owns 332,100 shares of the technology company’s stock worth $51,967,000 after buying an additional 30,163 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Plexus by 146.9% during the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock worth $40,501,000 after buying an additional 154,003 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Plexus by 19,069.1% during the first quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company’s stock worth $21,884,000 after purchasing an additional 169,906 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael J. Running sold 646 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $130.05, for a total value of $84,012.30. Following the completion of the sale, the insider now directly owns 630 shares in the company, valued at approximately $81,931.50. This represents a 50.63% 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, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of Plexus stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $132.22, for a total transaction of $272,108.76. Following the completion of the transaction, the chief accounting officer now directly owns 26,133 shares in the company, valued at approximately $3,455,305.26. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,032 shares of company stock worth $1,582,222. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed 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. Finally, Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.67.

Plexus Price Performance

Shares of PLXS opened at $132.86 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. Plexus Corp. has a 12 month low of $100.96 and a 12 month high of $172.89. The stock has a fifty day moving average price of $126.11 and a 200 day moving average price of $140.29. The company has a market cap of $3.60 billion, a P/E ratio of 30.83 and a beta of 0.81.

Plexus (NASDAQ:PLXS) last issued 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. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The firm had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. During the same period last year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

Plexus 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.