Pacer Advisors Inc. Trims Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Pacer Advisors Inc. trimmed its holdings in Plexus Corp. (NASDAQ:PLXSFree Report) by 65.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 238,169 shares of the technology company’s stock after selling 448,747 shares during the quarter. Pacer Advisors Inc. owned approximately 0.88% of Plexus worth $30,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aquatic Capital Management LLC raised its holdings 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 worth $37,000 after buying an additional 134 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares during the period. Versant Capital Management Inc raised its holdings in shares of Plexus by 1,000.0% in the first quarter. Versant Capital Management Inc now owns 473 shares of the technology company’s stock worth $61,000 after buying an additional 430 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Plexus by 185.6% in the first quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company’s stock worth $66,000 after buying an additional 334 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Plexus by 49.2% in the first quarter. Blue Trust Inc. now owns 846 shares of the technology company’s stock worth $108,000 after buying an additional 279 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Stock Up 4.2%

Shares of NASDAQ PLXS opened at $123.25 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.34 billion, a PE ratio of 21.00 and a beta of 0.80. The stock’s fifty day simple moving average is $133.24 and its two-hundred day simple moving average is $133.78. Plexus Corp. has a 12-month low of $103.43 and a 12-month high of $172.89.

Plexus (NASDAQ:PLXSGet Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. As a group, analysts expect that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLXS has been the topic of several research analyst reports. Wall Street Zen raised Plexus from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 30th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Plexus in a research note on Wednesday, June 4th. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $135.00 to $150.00 in a research note on Friday. Needham & Company LLC dropped their price objective on Plexus from $162.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus set a $145.00 price objective on Plexus in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Plexus presently has an average rating of “Moderate Buy” and a consensus target price of $153.25.

Read Our Latest Research Report on Plexus

Insider Buying and Selling at Plexus

In other Plexus news, insider Michael J. Running sold 646 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.05, for a total transaction of $84,012.30. Following the sale, the insider owned 630 shares of the company’s stock, valued at approximately $81,931.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.77, for a total value of $65,385.00. Following the completion of the sale, the director directly owned 9,365 shares of the company’s stock, valued at $1,224,661.05. The trade was a 5.07% 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. 1.76% of the stock is currently owned by company insiders.

Plexus Profile

(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.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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