Wealthspire Advisors LLC Trims Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Wealthspire Advisors LLC reduced its stake in Plexus Corp. (NASDAQ:PLXS) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,279 shares of the technology company’s stock after selling 249 shares during the quarter. Wealthspire Advisors LLC’s holdings in Plexus were worth $357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Olympiad Research LP purchased a new stake in shares of Plexus in the fourth quarter valued at $322,000. Handelsbanken Fonder AB lifted its position in shares of Plexus by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 6,937 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 700 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Plexus by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 138,367 shares of the technology company’s stock valued at $21,652,000 after acquiring an additional 4,445 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of Plexus by 1.8% in the fourth quarter. Congress Asset Management Co. now owns 16,230 shares of the technology company’s stock valued at $2,540,000 after acquiring an additional 281 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Plexus in the fourth quarter valued at $783,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.96, for a total value of $205,440.00. Following the completion of the sale, the chief executive officer now owns 86,932 shares of the company’s stock, valued at $11,906,206.72. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the sale, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at $4,281,775.14. The trade was a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,458 shares of company stock worth $2,786,515 over the last three months. 1.76% of the stock is owned by insiders.

Plexus Stock Performance

Plexus stock opened at $135.08 on Thursday. The firm has a market capitalization of $3.65 billion, a P/E ratio of 31.34 and a beta of 0.89. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $151.45 and a 200 day moving average price of $145.41. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $172.89.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. Equities research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PLXS shares. Stifel Nicolaus initiated coverage on Plexus in a research report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price objective on the stock. Needham & Company LLC upped their target price on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Benchmark reiterated a “buy” rating and issued a $165.00 target price on shares of Plexus in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.