SG Americas Securities LLC Trims Stock Position in Plexus Corp. (NASDAQ:PLXS)

SG Americas Securities LLC lowered its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 58.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,659 shares of the technology company's stock after selling 3,812 shares during the period. SG Americas Securities LLC's holdings in Plexus were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC grew its position in Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company's stock valued at $38,000 after purchasing an additional 367 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Plexus during the 2nd quarter worth about $51,000. EntryPoint Capital LLC raised its stake in Plexus by 56.2% in the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company's stock worth $93,000 after purchasing an additional 351 shares in the last quarter. Signaturefd LLC raised its stake in Plexus by 12.0% in the 2nd quarter. Signaturefd LLC now owns 1,705 shares of the technology company's stock worth $176,000 after purchasing an additional 183 shares in the last quarter. Finally, CHICAGO TRUST Co NA bought a new position in Plexus in the 2nd quarter valued at about $206,000. Institutional investors own 94.45% of the company's stock.

Plexus Stock Performance

NASDAQ PLXS traded down $1.38 during trading hours on Friday, reaching $138.18. 79,452 shares of the company were exchanged, compared to its average volume of 126,734. Plexus Corp. has a 1 year low of $87.21 and a 1 year high of $139.98. The business's 50 day simple moving average is $129.07 and its 200-day simple moving average is $114.66. 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 capitalization of $3.76 billion, a P/E ratio of 34.81 and a beta of 0.89.

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

Insider Activity

In other news, insider Steven J. Frisch sold 6,565 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the sale, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Karen Marie Rapp sold 500 shares of the business's 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven J. Frisch sold 6,565 shares of the business's 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 sale, the insider now owns 36,118 shares of the company's stock, valued at approximately $4,627,076.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,113 shares of company stock worth $2,541,394. 2.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

PLXS has been the topic of several research reports. Needham & Company LLC lifted their price target on shares of Plexus from $114.00 to $144.00 and gave the company a "buy" rating in a report on Friday, July 26th. Benchmark increased their price objective on shares of Plexus from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.25.

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.