Phocas Financial Corp. Sells 18,866 Shares of Plexus Corp. (NASDAQ:PLXS)

Phocas Financial Corp. lowered its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 30.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,805 shares of the technology company's stock after selling 18,866 shares during the quarter. Phocas Financial Corp. owned 0.16% of Plexus worth $5,852,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC grew its position 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 valued at $38,000 after purchasing an additional 367 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Plexus during the second quarter worth $51,000. Farther Finance Advisors LLC raised its holdings in Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock worth $63,000 after purchasing an additional 219 shares during the last quarter. EntryPoint Capital LLC lifted its position in Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company's stock valued at $93,000 after purchasing an additional 351 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Plexus by 190.1% in the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company's stock valued at $104,000 after purchasing an additional 498 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Plexus

In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the sale, the insider now owns 8,605 shares in the company, valued at approximately $1,097,137.50. This trade represents a 10.41 % 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, COO Oliver K. Mihm sold 5,691 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the sale, the chief operating officer now owns 19,585 shares in the company, valued at $3,271,870.10. This represents a 22.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,552 shares of company stock valued at $5,250,872. Corporate insiders own 2.39% of the company's stock.

Plexus Stock Up 0.6 %

Shares of NASDAQ:PLXS traded up $0.94 during trading on Tuesday, reaching $157.15. 130,629 shares of the stock were exchanged, compared to its average volume of 132,342. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $169.41. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 38.96 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The stock has a fifty day moving average of $140.17 and a two-hundred day moving average of $122.81.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company earned $1.44 earnings per share. Plexus's revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLXS has been the subject of a number of recent analyst reports. StockNews.com upgraded Plexus from a "hold" rating to a "buy" rating in a report on Monday. Needham & Company LLC boosted their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, October 25th. KeyCorp began coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a "sector weight" rating on the stock. Finally, Benchmark lifted their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.50.

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.