Plexus Corp. (NASDAQ:PLXS) Holdings Cut by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lowered its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 34.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,020 shares of the technology company's stock after selling 37,349 shares during the period. Chartwell Investment Partners LLC owned 0.26% of Plexus worth $9,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PLXS. Louisiana State Employees Retirement System raised its position in shares of Plexus by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company's stock valued at $1,424,000 after purchasing an additional 100 shares during the period. SummerHaven Investment Management LLC raised its stake in Plexus by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company's stock valued at $766,000 after purchasing an additional 137 shares in the last quarter. QRG Capital Management Inc. increased its stake in Plexus by 4.3% in the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company's stock valued at $383,000 after acquiring an additional 152 shares during the last quarter. Farrow Financial Inc. raised its stake in shares of Plexus by 0.7% during the third quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company's stock worth $2,966,000 after acquiring an additional 155 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company's stock worth $797,000 after purchasing an additional 170 shares during the period. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PLXS shares. StockNews.com lowered shares of Plexus from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Benchmark raised their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, October 28th. KeyCorp started coverage on Plexus in a report on Tuesday, October 22nd. They issued a "sector weight" rating for the company. Finally, Needham & Company LLC raised their price target on shares of Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Plexus currently has an average rating of "Hold" and an average price target of $133.50.

Plexus Stock Performance

Shares of NASDAQ PLXS traded down $1.43 during midday trading on Monday, reaching $164.54. The company had a trading volume of 38,626 shares, compared to its average volume of 131,418. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $136.01 and its 200 day simple moving average is $120.45. The stock has a market cap of $4.48 billion, a P/E ratio of 41.39 and a beta of 0.87. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. On average, analysts forecast that Plexus Corp. will post 6.2 earnings per share for the current fiscal year.

Insider Activity at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Plexus news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the transaction, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $123.75, for a total transaction of $123,750.00. Following the transaction, the chief executive officer now owns 87,026 shares in the company, valued at approximately $10,769,467.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,021 shares of company stock worth $6,285,388. Company insiders own 2.39% of the company's stock.

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.