Earnest Partners LLC Has $118.70 Million Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Earnest Partners LLC trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 758,531 shares of the technology company’s stock after selling 5,418 shares during the period. Earnest Partners LLC owned approximately 2.81% of Plexus worth $118,695,000 as of its most recent filing with the Securities and Exchange Commission.

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

Plexus Price Performance

NASDAQ PLXS opened at $126.80 on Friday. Plexus Corp. has a fifty-two week low of $99.79 and a fifty-two week high of $172.89. The stock’s 50-day moving average is $125.74 and its two-hundred day moving average is $144.20. The firm has a market cap of $3.43 billion, a P/E ratio of 29.42 and a beta of 0.83. 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 (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. On average, analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Activity at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 1,250 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 1,276 shares in the company, valued at approximately $176,879.12. The trade was a 49.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,958 shares of company stock worth $2,551,930. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $162.00 price objective (down previously from $172.00) on shares of Plexus in a research report on Friday. Benchmark reduced their price target on Plexus from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday. Finally, Stifel Nicolaus set a $145.00 price target on Plexus in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.67.

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.