Riverwater Partners LLC Boosts Stock Position in Plexus Corp. (NASDAQ:PLXS)

Riverwater Partners LLC raised its position in shares of Plexus Corp. (NASDAQ:PLXS) by 132.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,850 shares of the technology company’s stock after buying an additional 10,731 shares during the quarter. Plexus comprises about 1.3% of Riverwater Partners LLC’s investment portfolio, making the stock its 16th largest holding. Riverwater Partners LLC’s holdings in Plexus were worth $2,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLXS. UniSuper Management Pty Ltd acquired a new stake in Plexus in the first quarter worth about $515,000. Quantbot Technologies LP purchased a new stake in Plexus during the 1st quarter worth approximately $533,000. Vanguard Group Inc. increased its stake in Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after purchasing an additional 74,988 shares in the last quarter. Comerica Bank raised its holdings in shares of Plexus by 22.5% in the first quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock worth $7,758,000 after buying an additional 15,046 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Plexus by 269.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock worth $750,000 after buying an additional 5,303 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLXS shares. KeyCorp began coverage on Plexus in a research report on Tuesday. They issued a “sector weight” rating on the stock. Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of Plexus in a research note on Monday. Finally, Needham & Company LLC upped their target price on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.25.

Plexus Stock Performance

Shares of PLXS stock opened at $135.57 on Thursday. Plexus Corp. has a 52-week low of $87.21 and a 52-week high of $139.98. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.71 billion, a PE ratio of 37.45 and a beta of 0.89. The business has a 50-day simple moving average of $130.05 and a 200-day simple moving average of $115.62.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. The company had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. Plexus had a return on equity of 9.64% and a net margin of 2.82%. Plexus’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. On average, equities analysts expect that Plexus Corp. will post 3.74 EPS for the current year.

Insider Activity

In related news, CEO Todd P. Kelsey sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the sale, the chief executive officer now owns 93,682 shares in the company, valued at approximately $12,028,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now directly owns 9,586 shares of the company’s stock, valued at $1,227,199.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd P. Kelsey sold 3,000 shares of Plexus stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the completion of the sale, the chief executive officer now directly owns 93,682 shares in the company, valued at $12,028,768.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,113 shares of company stock valued at $2,541,394 in the last three months. 2.39% of the stock is currently owned by corporate 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.