Isthmus Partners LLC Lowers Stake in Plexus Corp. (NASDAQ:PLXS)

Isthmus Partners LLC lowered its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,866 shares of the technology company’s stock after selling 1,229 shares during the period. Isthmus Partners LLC owned approximately 0.10% of Plexus worth $4,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP grew its stake in shares of Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Plexus in the fourth quarter worth $45,000. Point72 DIFC Ltd bought a new position in shares of Plexus during the third quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Plexus in the 3rd quarter worth about $55,000. Finally, USA Financial Formulas bought a new position in Plexus in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 0.3 %

Shares of Plexus stock opened at $124.76 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 28.95 and a beta of 0.90. The company’s 50 day moving average is $146.94 and its 200 day moving average is $145.83.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) 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%. Research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the sale, the chief executive officer now owns 74,271 shares in the company, valued at $11,615,241.69. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank Zycinski sold 1,200 shares of Plexus stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $140.84, for a total value of $169,008.00. Following the transaction, the insider now directly owns 723 shares in the company, valued at approximately $101,827.32. The trade was a 62.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,458 shares of company stock valued at $2,786,515. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLXS. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark restated a “buy” rating and issued a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price on the stock. Finally, Needham & Company LLC lifted 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plexus presently has an average rating of “Moderate Buy” and an average target price of $163.00.

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.