Plexus Corp. (NASDAQ:PLXS) Shares Sold by Sendero Wealth Management LLC

Sendero Wealth Management LLC lowered its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 24.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,669 shares of the technology company’s stock after selling 1,501 shares during the period. Sendero Wealth Management LLC’s holdings in Plexus were worth $731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN raised its holdings in shares of Plexus by 0.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after buying an additional 7,245 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Plexus in the 3rd quarter valued at about $899,000. Victory Capital Management Inc. raised its stake in Plexus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock valued at $27,367,000 after acquiring an additional 7,483 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in Plexus by 62.6% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company’s stock worth $1,825,000 after acquiring an additional 5,138 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of Plexus in the 3rd quarter valued at approximately $826,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $167.08 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. Plexus Corp. has a one year low of $90.18 and a one year high of $170.07. The firm has a market capitalization of $4.53 billion, a P/E ratio of 41.67 and a beta of 0.91. The company’s fifty day moving average is $161.70 and its two-hundred day moving average is $138.99.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts forecast that Plexus Corp. will post 6.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 19,585 shares in the company, valued at approximately $3,271,870.10. This trade represents a 22.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 5,605 shares in the company, valued at $929,869.50. This trade represents a 34.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,091 shares of company stock worth $5,377,960 in the last quarter. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLXS. Benchmark upped their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. KeyCorp assumed coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Stifel Nicolaus raised their target price on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. 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. Finally, StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock 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.