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

Summit Trail Advisors LLC reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 8.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,342 shares of the technology company’s stock after selling 419 shares during the period. Summit Trail Advisors LLC’s holdings in Plexus were worth $594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC boosted its position in shares of Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Plexus during the 2nd quarter valued at about $51,000. Farther Finance Advisors LLC grew its position in shares of Plexus by 89.4% during the third 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 in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Plexus by 85.0% in the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock worth $91,000 after purchasing an additional 305 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Plexus by 190.1% in the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after buying an additional 498 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

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

Plexus Stock Performance

NASDAQ:PLXS opened at $161.39 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. The stock’s fifty day moving average is $143.00 and its 200 day moving average is $124.30. The firm has a market capitalization of $4.37 billion, a PE ratio of 40.25 and a beta of 0.87. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $169.41.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $1.44 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Plexus Corp. will post 6.14 earnings per share for the current year.

Insider Activity

In other news, insider Michael J. Running sold 539 shares of Plexus stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the sale, the insider now directly owns 1,030 shares in the company, valued at approximately $160,546.10. This trade represents a 34.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Oliver K. Mihm sold 5,691 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 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 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 currently owned by insiders.

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.