Phocas Financial Corp. Has $1.01 Million Holdings in Plexus Corp. (NASDAQ:PLXS)

Phocas Financial Corp. decreased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 85.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,440 shares of the technology company’s stock after selling 36,365 shares during the period. Phocas Financial Corp.’s holdings in Plexus were worth $1,008,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake in shares of Plexus by 573.5% in the third 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 acquired a new position in shares of Plexus during the 4th quarter worth about $45,000. Point72 DIFC Ltd bought a new position in Plexus during the third quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Plexus in the 3rd quarter valued at $55,000. Finally, USA Financial Formulas bought a new stake in Plexus in the fourth quarter valued at $56,000. 94.45% of the stock is owned by institutional investors.

Plexus Trading Down 1.4 %

NASDAQ:PLXS opened at $134.31 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The stock has a market capitalization of $3.63 billion, a PE ratio of 31.16 and a beta of 0.89. The business’s 50-day simple moving average is $151.94 and its 200-day simple moving average is $145.48. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $172.89.

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 the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Sell-side analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PLXS. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Benchmark reissued a “buy” rating and set a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. Needham & Company LLC boosted their target price on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus began coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.00.

Insider Transactions at Plexus

In other Plexus news, Director Randy J. Martinez sold 887 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $140.52, for a total transaction of $124,641.24. Following the sale, the director now directly owns 4,831 shares of the company’s stock, valued at approximately $678,852.12. This represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total transaction of $234,585.00. Following the completion of the sale, the chief executive officer now directly owns 74,271 shares in the company, valued at approximately $11,615,241.69. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,458 shares of company stock worth $2,786,515 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

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.