Monarch Capital Management Inc. Trims Holdings in Plexus Corp. (NASDAQ:PLXS)

Monarch Capital Management Inc. reduced its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,300 shares of the technology company’s stock after selling 150 shares during the period. Monarch Capital Management Inc.’s holdings in Plexus were worth $986,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Glenmede Trust Co. NA boosted its stake in shares of Plexus by 4.4% during the third quarter. Glenmede Trust Co. NA now owns 2,453 shares of the technology company’s stock worth $335,000 after buying an additional 104 shares during the period. GAMMA Investing LLC lifted its position in Plexus by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after acquiring an additional 131 shares during the period. Farrow Financial Inc. lifted its position in Plexus by 0.7% during the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after acquiring an additional 155 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Plexus by 6.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,788 shares of the technology company’s stock valued at $288,000 after purchasing an additional 176 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the sale, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This represents a 8.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $165.90, for a total transaction of $497,700.00. Following the completion of the sale, the insider now owns 5,605 shares in the company, valued at $929,869.50. This represents a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,091 shares of company stock valued at $5,377,960 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Plexus Stock Performance

NASDAQ:PLXS opened at $167.36 on Friday. The firm’s fifty day simple moving average is $161.73 and its 200-day simple moving average is $139.87. 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 stock has a market cap of $4.53 billion, a PE ratio of 41.74 and a beta of 0.91. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $170.07.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate 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 posted $1.44 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLXS. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. KeyCorp initiated coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Needham & Company LLC boosted their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus raised their price objective on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Benchmark boosted their target price on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Plexus Company 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.