Farrow Financial Inc. Reduces Stock Holdings in Plexus Corp. (NASDAQ:PLXS)

Farrow Financial Inc. decreased its position in Plexus Corp. (NASDAQ:PLXS) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,110 shares of the technology company’s stock after selling 582 shares during the period. Plexus comprises approximately 2.1% of Farrow Financial Inc.’s portfolio, making the stock its 13th biggest holding. Farrow Financial Inc.’s holdings in Plexus were worth $3,308,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PLXS. Pacer Advisors Inc. purchased a new position in Plexus in the fourth quarter valued at approximately $107,489,000. Raymond James Financial Inc. purchased a new position in Plexus in the fourth quarter valued at approximately $15,892,000. Disciplined Growth Investors Inc. MN lifted its stake in Plexus by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after purchasing an additional 59,465 shares during the last quarter. Algert Global LLC lifted its stake in Plexus by 1,546.5% in the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after purchasing an additional 43,009 shares during the last quarter. Finally, Barclays PLC lifted its stake in Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after purchasing an additional 28,406 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

Plexus stock opened at $124.76 on Friday. Plexus Corp. has a one year low of $90.18 and a one year high of $172.89. The business has a fifty day moving average price of $146.94 and a 200-day moving average price of $145.69. 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 firm has a market capitalization of $3.37 billion, a P/E ratio of 28.95 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data 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%. As a group, equities research analysts forecast that Plexus Corp. will post 5.9 EPS for the current year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 4,337 shares of Plexus stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the sale, the chief executive officer now owns 80,595 shares of the company’s stock, valued at approximately $11,463,026.85. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patrick John Jermain sold 3,361 shares of Plexus stock in a transaction on Monday, January 27th. The shares were sold at an average price of $144.57, for a total value of $485,899.77. Following the sale, the chief financial officer now directly owns 20,745 shares of the company’s stock, valued at $2,999,104.65. This represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,458 shares of company stock valued at $2,786,515. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of several research analyst reports. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus initiated coverage on Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $165.00 price target on shares of Plexus in a report on Wednesday, January 22nd. Finally, Needham & Company LLC raised their price target on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.