Isthmus Partners LLC Reduces Position in Plexus Corp. (NASDAQ:PLXS)

Isthmus Partners LLC decreased its position in Plexus Corp. (NASDAQ:PLXS) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,095 shares of the technology company’s stock after selling 6,464 shares during the period. Isthmus Partners LLC’s holdings in Plexus were worth $3,978,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLXS. American Century Companies Inc. grew its stake in shares of Plexus by 204.3% in the 2nd quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock valued at $16,306,000 after buying an additional 106,103 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Plexus by 8.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after buying an additional 87,574 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Plexus by 158.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock valued at $11,289,000 after buying an additional 50,564 shares during the period. Algert Global LLC grew its stake in shares of Plexus by 1,546.5% in the 3rd quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after buying an additional 43,009 shares during the period. Finally, Speece Thorson Capital Group Inc. grew its stake in shares of Plexus by 197.1% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 50,498 shares of the technology company’s stock valued at $5,210,000 after buying an additional 33,501 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity

In other news, insider Michael J. Running sold 539 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total value of $84,013.93. Following the sale, the insider now directly owns 1,030 shares in the company, valued at approximately $160,546.10. This trade represents a 34.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Oliver K. Mihm sold 5,691 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total transaction of $950,738.46. Following the completion of the sale, the chief operating officer now owns 19,585 shares in the company, valued at $3,271,870.10. The trade was a 22.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,591 shares of company stock worth $5,143,375. 2.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLXS. Needham & Company LLC increased their price target on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Benchmark upped their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, KeyCorp initiated coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Plexus Price Performance

Plexus stock opened at $162.33 on Friday. The firm has a market cap of $4.40 billion, a PE ratio of 40.48 and a beta of 0.87. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $169.41. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $145.12 and its two-hundred day moving average is $125.34.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that Plexus Corp. will post 6.14 EPS for the current fiscal year.

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.