Profit Investment Management LLC Has $3.53 Million Stake in Plexus Corp. (NASDAQ:PLXS)

Profit Investment Management LLC trimmed its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 40.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,845 shares of the technology company's stock after selling 17,197 shares during the quarter. Plexus accounts for 2.8% of Profit Investment Management LLC's portfolio, making the stock its 4th biggest holding. Profit Investment Management LLC owned about 0.09% of Plexus worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of PLXS. Quest Partners LLC raised its stake in shares of 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 purchasing an additional 367 shares during the last quarter. Innealta Capital LLC purchased a new stake in Plexus during the second quarter valued at $51,000. EntryPoint Capital LLC increased its position in Plexus by 56.2% during the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company's stock valued at $93,000 after acquiring an additional 351 shares during the last quarter. GAMMA Investing LLC increased its position in 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 acquiring an additional 498 shares during the last quarter. Finally, Signaturefd LLC increased its position in Plexus by 12.0% during the second quarter. Signaturefd LLC now owns 1,705 shares of the technology company's stock valued at $176,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Transactions at Plexus

In other news, insider Steven J. Frisch sold 6,565 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the transaction, the insider now owns 36,118 shares of the company's stock, valued at $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the transaction, the insider now directly owns 36,118 shares of the company's stock, valued at approximately $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven J. Frisch sold 6,048 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $123.99, for a total value of $749,891.52. Following the transaction, the insider now directly owns 30,070 shares of the company's stock, valued at approximately $3,728,379.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,769 shares of company stock valued at $2,731,834 over the last 90 days. Company insiders own 2.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC upped their price objective on Plexus from $114.00 to $144.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Benchmark upped their price objective on Plexus from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $125.25.

Plexus Stock Performance

NASDAQ:PLXS traded up $3.09 during mid-day trading on Friday, hitting $136.95. 82,726 shares of the company traded hands, compared to its average volume of 127,589. The stock's fifty day moving average price is $127.01 and its 200-day moving average price is $113.13. Plexus Corp. has a one year low of $87.21 and a one year high of $138.20. 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 firm has a market cap of $3.73 billion, a price-to-earnings ratio of 34.50 and a beta of 0.89.

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

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.