Wealthspire Advisors LLC Decreases Position in Plexus Corp. (NASDAQ:PLXS)

Wealthspire Advisors LLC lowered its holdings in Plexus Corp. (NASDAQ:PLXS) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,279 shares of the technology company’s stock after selling 249 shares during the period. Wealthspire Advisors LLC’s holdings in Plexus were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLXS. Wealth Enhancement Advisory Services LLC purchased a new position in Plexus in the third quarter valued at about $208,000. Farther Finance Advisors LLC boosted its holdings in Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after purchasing an additional 219 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Plexus by 6.5% in the third quarter. Harbor Capital Advisors Inc. now owns 7,744 shares of the technology company’s stock valued at $1,059,000 after purchasing an additional 476 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Plexus by 13.9% in the third quarter. QRG Capital Management Inc. now owns 4,226 shares of the technology company’s stock valued at $578,000 after purchasing an additional 516 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Plexus by 9.5% in the third quarter. Crossmark Global Holdings Inc. now owns 3,977 shares of the technology company’s stock valued at $544,000 after purchasing an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the 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 sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at approximately $4,281,775.14. This represents a 10.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 4,337 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total value of $616,851.51. Following the sale, the chief executive officer now owns 80,595 shares in the company, valued at $11,463,026.85. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,458 shares of company stock worth $2,786,515. 1.76% of the stock is currently owned by company insiders.

Plexus Trading Up 0.6 %

NASDAQ:PLXS opened at $135.08 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $151.45 and its two-hundred day moving average is $145.41. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $172.89. The company has a market cap of $3.65 billion, a PE ratio of 31.34 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Plexus Corp. will post 5.9 EPS for the current year.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target for the company. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Needham & Company LLC increased their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

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.