Summit Trail Advisors LLC Sells 419 Shares of Plexus Corp. (NASDAQ:PLXS)

Summit Trail Advisors LLC cut its stake in Plexus Corp. (NASDAQ:PLXS) by 8.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,342 shares of the technology company’s stock after selling 419 shares during the quarter. Summit Trail Advisors LLC’s holdings in Plexus were worth $594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PLXS. Quest Partners LLC raised its stake in Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Plexus in the 2nd quarter worth approximately $51,000. Farther Finance Advisors LLC lifted its stake in shares of Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after purchasing an additional 219 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Plexus by 85.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after purchasing an additional 305 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after purchasing an additional 498 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Stock Performance

Shares of Plexus stock opened at $161.39 on Tuesday. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41. The firm’s 50-day moving average is $143.00 and its 200 day moving average is $124.30. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 40.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Plexus Corp. will post 6.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PLXS shares. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Needham & Company LLC increased 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. Benchmark boosted their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Insider Buying and Selling at Plexus

In related news, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares in the company, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total value of $127,500.00. Following the transaction, the insider now directly owns 8,605 shares in the company, valued at approximately $1,097,137.50. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,091 shares of company stock valued at $5,334,885. 2.39% of the stock is owned by company insiders.

Plexus 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.