Phocas Financial Corp. Sells 18,866 Shares of Plexus Corp. (NASDAQ:PLXS)

Phocas Financial Corp. cut its position in shares of Plexus Corp. (NASDAQ:PLXS) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,805 shares of the technology company’s stock after selling 18,866 shares during the quarter. Phocas Financial Corp.’s holdings in Plexus were worth $5,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC grew its holdings in Plexus by 13.4% in the third quarter. Natixis Advisors LLC now owns 18,923 shares of the technology company’s stock worth $2,587,000 after purchasing an additional 2,235 shares during the period. CIBC Asset Management Inc bought a new position in Plexus in the 3rd quarter valued at about $253,000. Endowment Wealth Management Inc. bought a new position in Plexus during the 3rd quarter valued at $239,000. Victory Capital Management Inc. lifted its position in shares of Plexus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock valued at $27,367,000 after purchasing an additional 7,483 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Plexus during the 3rd quarter worth approximately $899,000. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In other Plexus news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total transaction of $127,500.00. Following the sale, the insider now owns 8,605 shares in the company, valued at approximately $1,097,137.50. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $148.48, for a total value of $593,920.00. Following the sale, the chief executive officer now directly owns 81,026 shares in the company, valued at approximately $12,030,740.48. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,552 shares of company stock valued at $5,250,872 over the last ninety days. 2.39% of the stock is currently owned by corporate insiders.

Plexus Price Performance

Shares of PLXS stock opened at $156.21 on Tuesday. 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 fifty-two week low of $90.18 and a fifty-two week high of $169.41. The firm has a market cap of $4.25 billion, a P/E ratio of 38.96 and a beta of 0.87. The business’s 50 day moving average price is $140.17 and its 200-day moving average price is $122.81.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 EPS 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $1.44 earnings per share. Plexus’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Plexus Corp. will post 6.13 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Needham & Company LLC boosted their price objective on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday. KeyCorp began coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Finally, Benchmark upped their price objective on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.50.

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.